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China's External Portfolio Investment Assets at the End of 2022 2023-05-26/en/2023/0526/2076.html
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The State Administration of Foreign Exchange (SAFE) has recently released data on foreign exchange settlement and sales by banks as well as cross-border receipts and payments by non-banking sectors in April 2023. The SAFE Deputy Administrator and Press Spokesperson Wang Chunying answered media questions on China's foreign exchange receipts and payments of April 2023. Q: Could you brief us on China's foreign exchange receipts and payments in April 2023? A: In general, China's foreign exchange market operated smoothly, and the supply and demand of foreign exchange within the country remained basically balanced. In April, the foreign exchange settlement and sales by banks registered a surplus of USD 5.5 billion, while the cross-border receipts and payments by non-banking sectors, including enterprises and individuals, were roughly unchanged from the previous month. Considering factors like forward settlement, option trading, and banks' foreign exchange positions, the supply and demand of domestic foreign exchange were basically in balance. Market expectations remained stable, and the transactions in China's foreign exchange market were rational and orderly. In April, on the one hand, the foreign exchange settlement rate, the measurement of customers' desire to settle foreign exchange, or the ratio of foreign exchange sold by customers to banks to foreign exchange received by customers, reached 72%, which was 8 percentage points higher than the monthly average in the first quarter of this year. On the other hand, the foreign exchange sales rate, which measures customers' desire to buy foreign exchange, or the ratio of foreign exchange purchased by customers from banks to foreign-related foreign exchange payments made by customers, stood at 71%, up by 3 percentage points over the monthly average in the first quarter of this year. In April, there was an increase in the willingness of enterprises and other market entities to settle and sell foreign exchange. This shows that there was an expectation of renminbi exchange rate stability and that transactions on the foreign exchange market were being carried out rationally. As a result, there was an independent balance between the supply and demand for foreign exchange. Cross-border capital flows under the current account continued to play a fundamental role in stabilizing the foreign exchange market, while capital flows under the capital account remained stable and orderly. In April, the cross-border trade surplus in goods reached USD 29.3 billion, still at a relatively high level. Meanwhile, the cross-border trade deficit in services registered USD 6.3 billion, basically at the same level as the average monthly scale in the first quarter. The cross-border travel expenditure of residents recovered orderly, but still lower than the pre-epidemic level. Under the capital account, foreign direct investment (FDI) in China maintained a net inflow in April, and overseas investors purchased domestic securities for two consecutive months. This indicates that China's economic development prospects and the value of RMB assets further enhanced the confidence of global investors. Meanwhile, China's outbound direct investment (ODI) and outbound portfolio investment remained stable and orderly. Looking forward to the future, the foundation for long-term stability in China's foreign exchange market is expected to remain strong. China's commitment to pursuing progress while ensuring stability has resulted in a stable economic recovery, demonstrating steady and sound growth momentum and improved expectations. These economic fundamentals have become increasingly supportive of the foreign exchange market. Furthermore, the spillover effects of monetary policy tightening in major developed economies are expected to weaken gradually. With increased market maturity and rationality among market participants in recent years, China's foreign exchange market has developed tremendous resilience, allowing it to better react to changes in the external environment. 2023-05-15/en/2023/0515/2083.html
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As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in April 2023, the amount of foreign exchange settlement and sales by banks was RMB 1286.9 billion and RMB 1249.3 billion, respectively. During January to April 2023, the accumulative amount of foreign exchange settlement and sales by banks was RMB 5023.1 billion and RMB 5091.0 billion, respectively. In the US dollar terms, in April 2023, the amount of foreign exchange settlement and sales by banks was USD 186.9 billion and USD 181.5 billion, respectively. During January to April 2023, the accumulative amount of foreign exchange settlement and sales by banks was USD 732.9 billion and USD 742.7 billion, respectively. In April 2023, the amount of cross-border receipts and payments by non-banking sectors was RMB 3254.8 billion and RMB 3264.5 billion, respectively. During January to April 2023, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 13421.8 billion and RMB 13198.6 billion, respectively. In the US dollar terms, in April 2023, the amount of cross-border receipts and payments by non-banking sectors was USD 472.7 billion and USD 474.1 billion, respectively. During January to April 2023, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 1957.8 billion and USD 1924.9 billion, respectively. Addendum: Glossary and relevant definitions Balance of payments (BOP) refers to all economic transactions between residents and non-residents. Foreign exchange settlement and sales by banks refers to settlement and sale transaction that bank executes for customers and for the banks themselves, including statistic data on settlements of forward contracts for foreign exchange settlement and sales and the exercises of option, and excluding the transactions in the interbank foreign exchange market. The statistic reporting date of Foreign exchange settlement and sales by banks should be the trade day of the Foreign exchange settlement and sales transaction. By definition, foreign exchange settlement means that foreign exchange holders sell foreign exchange to banks, and foreign exchange sales means that banks sell foreign exchange to foreign exchange buyers. The newly signed contract amount of forward foreign exchange settlement and sales refers to the binding forward contract between a bank and its client that predetermines foreign exchange currency, amount, exchange rate and tenor which to be executed upon maturity. The unwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forward contract due to change in its real demand, client to fully or partially close its forward position by executing another deal with opposite direction to the original contract. The rolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract due to change in its real demand. The outstanding amount of forward foreign exchange settlement and sales by the end of the current period refers to the total amount of forward contracts accumulated from all non-matured forward contracts with client. The net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client. The cross-border receipts and payments by non-banking sectors refers to the receipts and payments between domestic non-banking sectors (including institutional and individual residents) and non-residents through domestic banks, excluding receipts and payments in cash. In particular, the statistics includes cross-border receipts and payments between non-banking sectors and non-residents through domestic banks (including RMB and foreign currency), and domestic receipts and payments between non-banking sectors and non-residents through domestic banks (temporarily excluding domestic receipts and payments in RMB between individual residents and non-resident individuals). Data are collected when customers conduct receipts and payments with non-resident counterparties at domestic banks. Specifically, the receipts refer to the capital of non-banking sectors received from non-residents via domestic banks; the payments refer to the capital of non-banking sectors paid to non-residents via domestic banks. 2023-05-15/en/2023/0515/2074.html
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The State Administration of Foreign Exchange (SAFE) has recently released the preliminary data on the balance of payments (BOP) for the first quarter of 2023. The SAFE deputy administrator and press spokesperson Wang Chunying answered media questions on the relevant issues. Q: What are the characteristics of China’s BOP for the first quarter of 2023? A: The preliminary data shows that, in the first quarter of 2023, China maintained a basic equilibrium in its BOP. The current account reached a surplus of USD 82 billion, with its ratio to Gross Domestic Product (GDP) reaching 2.0% during the period, continuing to remain in a reasonable and balanced range. Meanwhile, China saw the cross-border capital flows in both directions remain in a reasonable and orderly manner. First, the trade surplus in goods was at a relatively high level compared to the same period in history. Trade in goods on BOP basis posted a surplus of USD 129.9 billion, the second-highest first-quarter reading on record. The export of goods reached USD 739.2 billion, while the import of goods registered USD 609.2 billion. China’s manufacturing industry has been rapidly transforming and upgrading, while the industrial and supply chains have remained stable. As a result, new trade growth points have emerged continuously, leading to a sustained high level of trade surplus in goods. Second, trade in services registered a deficit. In the first quarter, the trade deficit in services stood at USD 47 billion. Specifically, the deficit in travel reached USD 43.4 billion, representing a year-on-year increase of 58%, primarily due to the rise in outbound travel by individual residents. Meanwhile, the deficit in transportation was USD 19 billion, compared to a surplus of USD 3.3 billion in the same period last year. This was mainly due to the orderly recovery of global transportation capacity and the gradual return of China’s transportation service revenue and expenditure to pre-pandemic levels. Third, the two-way direct investment stayed in an orderly manner. In the first quarter, China’s outbound direct investment (ODI) saw a net outflow of USD 50.6 billion, representing a year-on-year increase of 23%. Of this amount, the net outflow of foreign equity investment was USD 31.3 billion. Meanwhile, the net inflow of foreign direct investment (FDI) in China reached USD 20.5 billion, with a net inflow of equity investment amounting to USD 28.3 billion. In sum, despite the complex and ever-changing external environment, China remains committed to pursuing progress while prioritizing stability, and promoting high-quality development. Therefore, the Chinese economy has maintained its growth momentum, which helps underpin the country’s balance of payments. 2023-05-12/en/2023/0512/2082.html
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Recently, the State Administration of Foreign Exchange (SAFE) releases data on China's external portfolio investment assets by country/region and by sector of resident holder at the end of 2022. The statistics show that China's external portfolio investment assets (excluding reserve assets) amounted to USD 1033.5 billion by the end of 2022, including USD 590.2 billion in equity investments and USD 443.3 billion in bond investments. The top 5 recipients of Chinese investments were Hong Kong SAR, the United States, Cayman Islands, the British Virgin Islands and the United Kingdom, with the amounts being USD 422.3 billion, USD 217.7 billion, USD 94.1 billion, USD 72.1 billion and USD 32.3 billion respectively. By the end of 2022, other financial corporations (non-bank financial institutions), bank and non-financial sector were the main sectors holding external portfolio investment assets, with the amounts being USD 367.1 billion, USD 342.7 billion and USD 323.8 billion respectively, accounting for 36 percent, 33 percent and 31 percent of China’s total external portfolio investment assets. (End) 2023-05-26/en/2023/0526/2077.html
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According to the statistics of the State Administration of Foreign Exchange (SAFE), the Chinese foreign exchange market (excluding foreign currency pairs, the same below) recorded total transactions of RMB 20.14 trillion (equivalent to USD 2.93 trillion) in April 2023. In terms of markets, the transactions volume of client market was RMB 2.91 trillion (equivalent to USD 0.42 trillion), and the transactions volume of interbank market was RMB 17.23 trillion (equivalent to USD 2.50 trillion). In terms of products, the cumulative transactions volume of the spot market was RMB 7.34 trillion (equivalent to USD 1.07 trillion), and that of the derivatives market was RMB 12.80 trillion (equivalent to USD 1.86 trillion). From January to April 2023, a total of RMB 80.29 trillion (equivalent to USD 11.71 trillion) was traded in the Chinese foreign exchange market. 2023-05-26/en/2023/0526/2078.html
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According to the State Administration of Foreign Exchange (SAFE) statistics, by the end of April 2023, China’s foreign exchange reserves registered USD3.2048 trillion, up by USD20.9 billion, or 0.66%, from the end of March. In April 2023, influenced by global macroeconomic data, monetary policies and expectations of major economies, and other factors, the US dollar index fell, while the prices of global financial assets increased in general. China’s foreign exchange reserves rose this month due to the combined effects of currency translation and asset price changes. China has made enormous efforts to foster high-quality development, and its economy has maintained growth momentum, which benefits the general stability of the foreign exchange reserves. 2023-05-07/en/2023/0507/2081.html
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China Balance of Payment Report(First half of 2022) 2023-05-17/en/2023/0517/2075.html
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In June 2024, the export and import of China’s international trade in goods and services totalled RMB 3996.1 billion, up 2 percent over the same time last year. Of this, the export of goods recorded RMB 1930.4 billion and the import recorded RMB 1525.2 billion, resulting in a surplus of RMB 405.2 billion. The export of services recorded RMB 212.5 billion and the import recorded RMB 328.0 billion, resulting in a deficit of RMB 115.5 billion. In terms of the major items, the export and import of transport, travel, other business services, telecommunications, computer and information services registered RMB 158.6 billion, RMB 142.0 billion, RMB 94.6 billion and RMB 52.6 billion respectively. In the US dollar terms,in June 2024, the export and import of China’s international trade in goods and services were USD 301.1 billion and USD 260.4 billion respectively, with a surplus of USD 40.7 billion.(End) International Trade in Goods and Services of China June 2024 Item In 100 million of RMB In 100 million of USD Goods and services 2896 407 Credit 21429 3011 Debit -18533 -2604 1. Goods 4052 569 Credit 19304 2713 Debit -15252 -2143 2. Services -1155 -162 Credit 2125 299 Debit -3280 -461 2.1Manufacturing services on physical inputs owned by others 67 9 Credit 72 10 Debit -6 -1 2.2Maintenance and repair services n.i.e 12 2 Credit 64 9 Debit -51 -7 2.3Transport -299 -42 Credit 644 90 Debit -943 -132 2.4Travel -994 -140 Credit 213 30 Debit -1207 -170 2.5Construction 41 6 Credit 90 13 Debit -49 -7 2.6Insurance and pension services -83 -12 Credit 37 5 Debit -120 -17 2.7Financial services 6 1 Credit 26 4 Debit -20 -3 2.8Charges for the use of intellectual property -203 -28 Credit 64 9 Debit -266 -37 2.9Telecommunications, computer and information services 155 22 Credit 341 48 Debit -185 -26 2.10Other business services 172 24 Credit 559 79 Debit -387 -54 2.11Personal, cultural, and recreational services -22 -3 Credit 9 1 Debit -31 -4 2.12Government goods and services n.i.e -9 -1 Credit 7 1 Debit -16 -2 Notes: 1. The international trade in goods and services in this table refers to the transactions between residents and non-residents, based on the same standard as that for BOP statement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement. 2. The data on international trade in goods and services are prepared in USD, and the RMB data for the current month is derived by converting the USD data at the monthly average central parity rate of the RMB against the USD. 3. This table employs rounded-off numbers. Definition of Indicators: Goods and Services: refers to the trade in goods and services between residents and non-residents, which is based on the same standard as that for the BOP statement. 1. Goods: refers to transactions in goods whereby the economic ownership is transferred between the Chinese residents and non-residents. The credit side records export of goods, while the debit side records import of goods. The data of goods account are mainly from the customs statistics of imports and exports, but differ from the statistics of the customs mainly in the following aspects: first, the goods in the BOP statement only reflect the goods whose ownership has been transferred (e.g. goods under the trade modes such as general trade and processing trade with imported materials), while the goods whose ownership is not transferred (e.g. manufacturing services with supplied materials or with exported materials) are included in the statistics of trade in services instead of the statistics of trade in goods; second, as required by the BOP statistics, the goods imported and exported are valued on the FOB basis, but as required by the customs, the goods exported are valued on the FOB basis, whereas goods imported are on the CIF basis. Therefore, for the purpose of the BOP statistics, the international transport and insurance premiums are taken out from the value of imported goods and included in the trade in services; and third, the data on net export of goods in merchanting which are not included in the customs statistics are supplemented. 2. Services: includes manufacturing services on physical inputs owned by others, maintenance and repair services n.i.e, transport, travel, construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received. 2.1 Manufacturing services on physical owned by others: processor only provides processing, assembly, packaging and other services and charges service fee from the owner, while the ownership of the goods is not transferred between the owner and the processor. The credit side records the manufacturing services supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa for debit side. 2.2 Maintenance and repair services: refer to the maintenance and repair services supplied by residents to non-residents or vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side records the maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.3 Transport: refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postal and delivery services. The credit side records the international transport, postal and delivery services supplied by residents to non-residents, and vice versa for debit side. 2.4 Travel: refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for indefinite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents. 2.5 Construction services: refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation, assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents. 2.6 Insurance and pension services: refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.7 Financial services: refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.8 Charges for the use of intellectual property: refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or prototypes. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.9 Telecommunications, computer and information services: refer tocommunications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents to non-residents, and vice versa for debit side. 2.10 Other business services: refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services, technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.11 Personal, cultural and recreational services: refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films, radio, television programs and music recordings) and other personal, cultural and recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.12 Government goods and services n.i.e: refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side. 2024-07-26/en/2024/0726/2221.html
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In May 2024, the export and import of China’s international trade in goods and services totalled RMB 4059.9 billion, up 7 percent over the same time last year. Of this, the export of goods recorded RMB 1946.9 billion and the import recorded RMB 1555.5 billion, resulting in a surplus of RMB 391.4 billion. The export of services recorded RMB 202.4 billion and the import recorded RMB 355.1 billion, resulting in a deficit of RMB 152.7 billion. In terms of the major items, the export and import of travel, transport, other business services, telecommunications, computer and information services registered RMB 159.7 billion, RMB 159.4 billion, RMB 101.6 billion and RMB 50.5 billion respectively. In the US dollar terms, in May 2024, the export and import of China’s international trade in goods and services were USD 302.5 billion and USD 268.9 billion respectively, with a surplus of USD 33.6 billion.(End) International Trade in Goods and Services of China May 2024 Item In 100 million of RMB In 100 million of USD Goods and services 2386 336 Credit 21493 3025 Debit -19106 -2689 1. Goods 3914 551 Credit 19469 2740 Debit -15555 -2189 2. Services -1527 -215 Credit 2024 285 Debit -3551 -500 2.1Manufacturing services on physical inputs owned by others 74 10 Credit 80 11 Debit -6 -1 2.2Maintenance and repair services n.i.e 24 3 Credit 62 9 Debit -38 -5 2.3Transport -391 -55 Credit 602 85 Debit -992 -140 2.4Travel -1203 -169 Credit 197 28 Debit -1400 -197 2.5Construction 54 8 Credit 89 12 Debit -35 -5 2.6Insurance and pension services -49 -7 Credit 16 2 Debit -65 -9 2.7Financial services 2 0 Credit 20 3 Debit -19 -3 2.8Charges for the use of intellectual property -286 -40 Credit 47 7 Debit -334 -47 2.9Telecommunications, computerand information services 112 16 Credit 308 43 Debit -196 -28 2.10Other business services 152 21 Credit 584 82 Debit -432 -61 2.11Personal, cultural, and recreational services -16 -2 Credit 9 1 Debit -25 -4 2.12Government goods and services n.i.e 2 0 Credit 10 1 Debit -8 -1 Notes: 1. The international trade in goods and services in this table refers to the transactions between residents and non-residents, based on the same standard as that for BOP statement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement. 2. The data on international trade in goods and services are prepared in USD, and the RMB data for the current month is derived by converting the USD data at the monthly average central parity rate of the RMB against the USD. 3. This table employs rounded-off numbers. Definition of Indicators: Goods and Services: refers to the trade in goods and services between residents and non-residents, which is based on the same standard as that for the BOP statement. 1. Goods: refers to transactions in goods whereby the economic ownership is transferred between the Chinese residents and non-residents. The credit side records export of goods, while the debit side records import of goods. The data of goods account are mainly from the customs statistics of imports and exports, but differ from the statistics of the customs mainly in the following aspects: first, the goods in the BOP statement only reflect the goods whose ownership has been transferred (e.g. goods under the trade modes such as general trade and processing trade with imported materials), while the goods whose ownership is not transferred (e.g. manufacturing services with supplied materials or with exported materials) are included in the statistics of trade in services instead of the statistics of trade in goods; second, as required by the BOP statistics, the goods imported and exported are valued on the FOB basis, but as required by the customs, the goods exported are valued on the FOB basis, whereas goods imported are on the CIF basis. Therefore, for the purpose of the BOP statistics, the international transport and insurance premiums are taken out from the value of imported goods and included in the trade in services; and third, the data on net export of goods in merchanting which are not included in the customs statistics are supplemented. 2. Services: includes manufacturing services on physical inputs owned by others, maintenance and repair services n.i.e, transport, travel, construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received. 2.1 Manufacturing services on physical owned by others: processor only provides processing, assembly, packaging and other services and charges service fee from the owner, while the ownership of the goods is not transferred between the owner and the processor. The credit side records the manufacturing services supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa for debit side. 2.2 Maintenance and repair services: refer to the maintenance and repair services supplied by residents to non-residents or vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side records the maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.3 Transport: refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postal and delivery services. The credit side records the international transport, postal and delivery services supplied by residents to non-residents, and vice versa for debit side. 2.4 Travel: refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for indefinite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents. 2.5 Construction services: refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation, assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents. 2.6 Insurance and pension services: refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.7 Financial services: refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.8 Charges for the use of intellectual property: refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or prototypes. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.9 Telecommunications, computer and information services: refer tocommunications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents to non-residents, and vice versa for debit side. 2.10 Other business services: refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services, technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.11 Personal, cultural and recreational services: refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films, radio, television programs and music recordings) and other personal, cultural and recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.12 Government goods and services n.i.e: refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side. 2024-06-28/en/2024/0628/2213.html