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In the second quarter of 2019, China's current account registered a surplus of RMB 314.6 billion, and the capital and financial accounts recorded a surplus of RMB 145.6 billion.The financial account (excluding reserve assets) recorded a surplus of RMB 94.1 billion, and reserve assets declined by RMB 51.9 billion. In the first half of 2019, China's current account registered a surplus of RMB 598.4 billion, and the capital and financial accounts recorded a surplus of RMB 291.2 billion. The financial account (excluding reserve assets) recorded a surplus of RMB 307.5 billion, and reserve assets rose by RMB15.7 billion. In the US dollar terms, in the second quarter of 2019, China's current account recorded a surplus of USD 46.2 billion, including a surplus of USD 120.6 billion under trade in goods, a deficit of USD 65.8 billion under trade in services, a deficit of USD 11.9 billion under primary income, and a surplus of USD 3.3 billion under secondary income. The capital and financial accounts recorded a surplus of USD 21.4 billion, including a deficit of USD 60 million under the capital account, a surplus of USD 13.8 billion under the financial account (excluding reserve assets), and a decline of USD 7.6 billion under reserves assets. In the US dollar terms, in the first half of 2019, China's current account recorded a surplus of USD 88.2 billion, including a surplus of USD 208.4 billion under trade in goods, a deficit of USD 129.3 billion under trade in services, a surplus of USD 3.7 billion under primary income, and a surplus of USD 5.4 billion under secondary income. The capital and financial accounts recorded a surplus of USD 43.0 billion, including a deficit of USD 0.1 billion under the capital account, a surplus of USD 45.4billion under the financial account (excluding reserve assets), and an increase of USD 2.4 billion under reserves assets. In SDR terms, in the second quarter of 2019,China posted a surplus of SDR 33.3 billion under the current account, and a surplus of SDR 15.4 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a surplus of SDR 10 billion, and reserves assets decreased by SDR 5.5 billion. In SDR terms, in the first half of 2019,China posted a surplus of SDR 63.6 billion under the current account, and a surplus of SDR 30.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a surplus of SDR 32.7 billion, and an increase of SDR 1.7 billion under reserves assets. In addition, to facilitate understanding of China’s Balance of Payments and International Investment Position among all users, the BOP Analysis Team of SAFE released China’s Balance of Payments Report for the First Half of 2019（in Chinese）. (End) Abridged Balanceof Payments of China, Second Quarter of 2019 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 3,146 462 333 Credit 2 50,246 7,374 5,325 Debit 3 -47,101 -6,913 -4,992 1. A Goods and Services 4 3,733 548 396 Credit 5 45,563 6,687 4,829 Debit 6 -41,830 -6,139 -4,433 1.A.a Goods 7 8,218 1,206 871 Credit 8 41,532 6,095 4,402 Debit 9 -33,314 -4,889 -3,531 1.A.b Services 10 -4,486 -658 -475 Credit 11 4,031 592 427 Debit 12 -8,516 -1,250 -903 1.B Primary Income 13 -810 -119 -86 Credit 14 4,215 619 447 Debit 15 -5,026 -738 -533 1.C Secondary Income 16 223 33 24 Credit 17 468 69 50 Debit 18 -245 -36 -26 2. Capital and Financial Account 19 1,456 214 154 2.1 Capital Account 20 -4 -1 0 Credit 21 2 0 0 Debit 22 -6 -1 -1 2.2 Financial Account 23 1,460 214 155 Assets 24 -2,914 -428 -309 Liabilities 25 4,374 642 464 2.2.1 Financial Account Excluding Reserve Assets 26 941 138 100 2.2.1.1 Direct Investment 27 587 86 62 Assets 28 -1,750 -257 -186 Liabilities 29 2,337 343 248 2.2.1.2 Portfolio Investment 30 244 36 26 Assets 31 -1,555 -228 -165 Liabilities 32 1,799 264 191 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 66 10 7 Assets 34 169 25 18 Liabilities 35 -103 -15 -11 2.2.1.4 Other Investment 36 45 7 5 Assets 37 -296 -43 -31 Liabilities 38 341 50 36 2.2.2 Reserve Assets 39 519 76 55 3. Net Errors and Omissions 40 -4,601 -675 -488 Notes: 1.The statement is compiled according to BPM6. Reserve assets are included in capital and financial accounts. 2."Credit" is presented as positive value while "debit" as negative value, and the balance is the sum of the"Credit" and the "Debit". All items herein refer to balance,unless marked with "Credit" or "Debit". 3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data,using quarterly average central parity rate of RMB against USD. The quarterly accumulated RMB denominated BOP data is derived from the sum total of the RMB denominated data for the quarters. 4.The SDR denominated quarterly BOP data is converted from the USD denominated BOP data,using quarterly average exchange rate of SDR against USD. The quarterly accumulated SDRdenominated BOP data is derived from the sum total of the SDR denominated data for the quarters. 5.This statement employs rounded-off numbers. 6.For detailed data, please see “Data and Statistics” at the website of SAFE. Abridged China’s Balance of Payments, First Half of 2019 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 5,984 882 636 Credit 2 95,651 14,104 10,158 Debit 3 -89,666 -13,222 -9,523 1. A Goods and Services 4 5,372 791 570 Credit 5 86,034 12,686 9,137 Debit 6 -80,663 -11,895 -8,567 1.A.a Goods 7 14,138 2,084 1,501 Credit 8 77,994 11,500 8,283 Debit 9 -63,856 -9,416 -6,782 1.A.b Services 10 -8,766 -1,293 -931 Credit 11 8,040 1,186 854 Debit 12 -16,806 -2,479 -1,785 1.B Primary Income 13 244 37 26 Credit 14 8,740 1,289 928 Debit 15 -8,496 -1,252 -902 1.C Secondary Income 16 369 54 39 Credit 17 877 129 93 Debit 18 -508 -75 -54 2. Capital and Financial Account 19 2,912 430 309 2.1 Capital Account 20 -6 -1 -1 Credit 21 8 1 1 Debit 22 -14 -2 -1 2.2 Financial Account 23 2,918 430 310 Assets 24 -5,152 -759 -547 Liabilities 25 8,070 1,190 857 2.2.1 Financial Account Excluding Reserve Assets 26 3,075 454 327 2.2.1.1 Direct Investment 27 2,378 352 253 Assets 28 -3,170 -467 -337 Liabilities 29 5,548 819 589 2.2.1.2 Portfolio Investment 30 1,557 230 166 Assets 31 -2,647 -390 -281 Liabilities 32 4,205 621 447 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 4 1 0 Assets 34 116 17 12 Liabilities 35 -112 -16 -12 2.2.1.4 Other Investment 36 -864 -128 -92 Assets 37 706 105 75 Liabilities 38 -1,570 -233 -167 2.2.2 Reserve Assets 39 -157 -24 -17 3. Net Errors and Omissions 40 -8,896 -1,312 -945 Notes: 1.The statement is compiled according to BPM6. Reserve assets are included in capital and financial accounts. 2."Credit" is presented as positive value while "debit" as negative value, and the balance is the sum of the"Credit" and the "Debit". All items herein refer to balance, unless marked with "Credit" or "Debit". 3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data, using quarterly average central parity rate of RMB against USD. The quarterly accumulated RMB denominated BOP data is derived from the sum total of the RMB denominated data for the quarters. 4.The SDR denominated quarterly BOP data is converted from the USD denominated BOP data, using quarterly average exchange rate of SDR against USD. The quarterly accumulated SDR denominated BOP data is derived from the sum total of the SDR denominated data for the quarters. 5.This statement employs rounded-off numbers. 6.For detailed data, please see “Data and Statistics” at the website of SAFE. 2019-09-27/en/2019/0927/1569.html
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As at the end of June 2019, China’s external financial assets reached USD 7442.7 billion, external financial liabilities reached USD 5417.5 billion, and net external assets totaled USD 2025.2 billion. In the external financial assets, direct investment assets amounted to USD 1952.2 billion, portfolio investment assets, USD 560.2 billion, financial derivative assets, USD 8.0 billion, other investment assets, USD 1697.0 billion, and reserves assets,USD 3225.2 billion, accounting for 26 percent, 8 percent, 0.1 percent, 23 percent and 43 percent of external financial assets respectively. In external liabilities, direct investment liabilities were USD 2834.8 billion,portfolio investment liabilities, USD 1263.3 billion, financial derivative liabilities, USD 7.7 billion and other investment liabilities, USD 1311.7 billion, accounting for 52 percent, 23 percent, 0.1 percent and 24 percent of the external financial liabilities respectively. In SDR terms, China’s external financial assets and liabilities reached SDR 5353.7 billion and SDR 3896.9 billion respectively, and external net assets totaled SDR 1456.8 billion at the end of June 2019. In addition, to facilitate understanding of China’s Balance of Payments and International Investment Position among all users,the BOP Analysis Team of SAFE released China’s Balance of Payments Report for the First Half of 2019 (in Chinese). (End) China's International Investment Position, End of June 2019 Item Line No. Position in 100 million USD Position in 100 million SD Net Position 1 20,252 14,568 Assets 2 74,427 53,537 1 Direct Investment 3 19,522 14,043 1.1 Equity and Investment Fund Shares 4 16,822 12,100 1.2 Debt Instruments 5 2,701 1,943 1.a Financial Sectors 6 2,665 1,917 1.1.a Equity and Investment Fund Shares 7 2,552 1,836 1.2.a Debt Instruments 8 113 81 1.b Non-financial Sectors 9 16,857 12,126 1.1.b Equity and Investment Fund Shares 10 14,269 10,264 1.2.b Debt Instruments 11 2,588 1,862 2 Portfolio Investment 12 5,602 4,030 2.1 Equity and Investment Fund Shares 13 3,034 2,182 2.2 Debt Securities 14 2,568 1,848 3 Financial Derivatives (other than reserves) and Employee Stock Options 15 80 58 4 Other Investment 16 16,970 12,207 4.1 Other Equity 17 69 50 4.2 Currency and Deposits 18 3,982 2,864 4.3 Loans 19 6,895 4,960 4.4 Insurance, Pension, and Standardized Guarantee Schemes 20 118 85 4.5 Trade Credit and Advances 21 5,382 3,871 4.6 Others 22 524 377 5 Reserve Assets 23 32,252 23,200 5.1 Monetary Gold 24 873 628 5.2 Special Drawing Rights 25 108 78 5.3 Reserve Position in the IMF 26 82 59 5.4 Foreign Exchange Reserves 27 31,192 22,437 5.5 Other Reserve Assets 28 -3 -2 Liabilities 29 54,175 38,969 1 Direct Investment 30 28,348 20,391 1.1 Equity and Investment Fund Shares 31 26,066 18,750 1.2 Debt Instruments 32 2,282 1,642 1.a Financial Sectors 33 1,537 1,106 1.1.a Equity and Investment Fund Shares 34 1,384 996 1.2.a Debt Instruments 35 153 110 1.b Non-financial Sectors 36 26,811 19,286 1.1.b Equity and Investment Fund Shares 37 24,681 17,754 1.2.b Debt Instruments 38 2,129 1,532 2 Portfolio Investment 39 12,633 9,087 2.1 Equity and Investment Fund Shares 40 8,019 5,768 2.2 Debt Securities 41 4,614 3,319 3 Financial Derivatives (other than reserves) and Employee Stock Options 42 77 55 4 Other Investment 43 13,117 9,435 4.1 Other Equity 44 0 0 4.2 Currency and Deposits 45 4,417 3,177 4.3 Loans 46 4,799 3,452 4.4 Insurance, Pension, and Standardized Guarantee Schemes 47 125 90 4.5 Trade Credit and Advances 48 3,463 2,491 4.6 Others 49 216 156 4.7 Special Drawing Rights 50 97 70 Notes:1. This table employs rounded-off numbers. 2.Net International Investment Position refers to assets minus liabilities. Positive figure refers to net assets, and negative figure refers to net liabilities. 3.The SDR denominated data is converted from the USD denominated data, using the exchange rate of SDR against USD at the end of the quarter. 2019-09-27/en/2019/0927/1570.html
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On the morning of September 30, the State Administration of Foreign Exchange (SAFE) held a national-flag-raising ceremony in the office area of its headquarters to celebrate the 70th anniversary of the founding of the People's Republic of China. Attendees included Pan Gongsheng, Secretary of the CPC Leadership and Administrator of the SAFE, Beijing-based members of the CPC Leadership and chief accountant. The ceremony started at 9:00 am. To the inspiring and exciting March of the Volunteers, the Five-starred Red Flag rose slowly but steadily, fluttering in the morning breeze. All the attendees gave a solemn eye salute to the national flag, while singing the national anthem with excitement. In this manner, they showed their deep respect and affection for their motherland, wishing the Chinese nation prosper and thrive. Over the past seven decades, under the leadership of the Communist Party of China, the Chinese nation has achieved great leaps from gaining independence to realizing economic well-being and to becoming a great power after trials and tribulations, witnessing tremendous changes of historic significance in their motherland. Since the 18th CPC National Congress, the CPC Central Committee with Comrade Xi Jinping at its core, thinking in big picture terms with a holistic view, has united and led the whole Party, military and Chinese people of all ethnic groups to solve long-standing and deep-seated problems and achieve a resounding success they have long aspired, boosting the accomplishment of historic progress in the causes of the Party and the state, and embracing a new era for socialism with Chinese characteristics. According to Administrator Pan Gongsheng, as the Chinese people are celebrating the 70th anniversary of the founding of the People's Republic of China, holding this simple but solemn ceremony to salute the national flag and wish the motherland all the best is a profound opportunity to educate officials and staff about patriotism and the Communist Party of China. Over the past 70 years, foreign exchange authorities have worked around the Party and the state, effectively allocating and harnessing foreign exchange resources, thus making great contributions to economic growth and national development at different periods of time. Since the 18th CPC National Congress, foreign exchange authorities have proactively served the new open economic system, and mitigated the heavy risks arising from cross-border capital flows, effectively ensuring China's economic and financial security in the complex and challenging environment. Under these circumstances, foreign exchange administration systems and regimes that are a good fit for comprehensive opening up and modernization of national governance systems and capabilities have been refined. As Pan Gongsheng stressed, foreign exchange authorities should unite more closely around the CPC Central Committee with Comrade Xi Jinping at its core, and guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, they should strengthen the "Four Consciousnesses", adhere to the "Four Confidences", and ensure the "Two Maintenances". Following the decisions and arrangements of the CPC Central Committee and the State Council, they should expand high-level opening-up, guard against risks arising from cross-border capital flows, and safeguard economic and financial security, so as to make greater contributions to the building of a moderately prosperous society in all aspects and the achievement of great victory of socialism with Chinese characteristics in the new era. Leaders of all departments of the SAFE and all officials and staff of the SAFE headquarters also attended the ceremony. (The end) 2019-09-30/en/2019/0930/1572.html
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As shown in the statistics of the State Administration of ForeignExchange (SAFE), in September 2019, the amount of foreign exchange settlementand sales by banks was RMB 1150.2 billion (equivalent to USD 162.5 billion) andRMB 1174.5 billion (equivalent to USD 165.9 billion), respectively, with adeficit of RMB 24.3 billion (equivalent to USD 3.4 billion). In particular, theamount of foreign exchange settlement and sales by banks for customers was RMB 1024.1billionand RMB 1065.2 billion, respectively, with a deficit of RMB 41.2 billion; theamount of foreign exchange settlement and sales for banks themselves is RMB 126.1billion and RMB 109.3billion, respectively, with a settlement of RMB 16.8billion. During the period, newly signed contract amount of forward foreign exchangesettlement and sales was RMB 105.3 billion and RMB 66.9 billion, respectively,with a net newly signed contract amount of forward foreign exchange settlementof RMB 38.4 billion. At the end of September, outstanding amount of forward foreignexchange settlement and sales by the end of the current period was RMB 491.7billion and RMB 490.3 billion, respectively, with a net outstanding amount of forwardforeign exchange settlement of RMB 1.4 billion; the net Delta exposure ofoutstanding options was RMB -246.4billion. During January to September 2019, the accumulative amount of foreignexchange settlement and sales by banks was RMB 9483.9 billion (equivalent toUSD 1382.9 billion) and RMB 9813.2 billion (equivalent to USD 1431.1 billion),with an accumulative deficit of RMB 329.2 billion. In particular, theaccumulative amount of foreign exchange settlement and sales by banks forcustomers was RMB 8731.3 billion and RMB 8992.3 billion, respectively, with anaccumulative deficit of RMB 260.9 billion; the accumulative amount of foreignexchange settlement and sales for banks themselves was RMB 752.6 billion andRMB 820.9 billion, respectively, with an accumulative deficit of RMB 68.3billion. During the period, newly signed contract amount of forward foreign exchangesettlement and sales was RMB 1162.1 billion and RMB 441.8 billion,respectively, with a net newly signed contract amount of forward foreignexchange settlement of RMB 720.3 billion. In September 2019, the amount of cross-border receipts and payments by non-bankingsectors was RMB 2152.1 billion (equivalent to USD 304 billion) and RMB 2168.2billion (equivalent to USD 306.3 billion), respectively, with a deficit of RMB 16.1billion (equivalent to USD 2.3 billion). During January to September 2019, the amount of cross-border receiptsand payments by non-banking sectors was RMB 18032.8 billion (equivalent to USD 2631.5billion) and RMB 18023.1 billion (equivalent to USD 2628.9 billion),respectively, with a surplus of RMB 9.7 billion. Addendum:Glossary and relevant definitions Balance of payments(BOP) refers to all economic transactionsbetween residents and non-residents. Foreignexchange settlement and sales by banks refers to settlement and sale transaction that bank executes for customersand for the banks themselves, including statistic data onsettlements of forward contracts for foreign exchange settlementand sales and the exercises of option, and excludingthe transactions in the interbank foreign exchange market. The statistic reporting date of Foreign exchangesettlement and sales by banks should be the trade day of theForeignexchange settlement and sales transaction. By definition, foreignexchange settlement means foreign exchange holders sell foreignexchange to designated foreign exchange bank, and foreignexchange sales means designated bank sells foreign exchange to foreign exchange buyers. The net position of foreign exchange settlement andforeign exchange sales could be position squared throughtransactions on the inter-bank foreign exchange market, and it is one ofthe major contributors to the country’sforeign exchange reserve fluctuation, though it is not equal to netchange in foreign exchange reserves during the same period Unlikethe principle of balance-of-payments statistics, which cover the transactionsbetween residents and non-residents, foreign exchange settlement and sales bybanks only cover transactions of RMB and foreign currencies between banks and customers or on banks for themselves. Thenewly signed contract amount of forward foreign exchange settlement and sales refers to the binding forward contract between designated foreignexchange bank and client that predetermines foreign exchange currency, amount,exchange rate and tenor which to be executed upon maturity. Thenewly signed forward contract enables corporate to lock inadvance the exchange rate for the purchase or sale of a currency on a futuredate to manage relevant foreign exchange risk arising fromRMB volatility. In general, bank will hedge its foreign exchange risk exposures arise from the newly signed forward contract in the Interbank foreign exchange market. For example,when bank has net foreign exchange long position, bankwill short the equivalent amount of foreign exchange in the Interbank foreignexchange market in advance, or vice versa. Therefore, the newly signedcontract amount of forward foreign exchange settlement and sales is also one of contributors to China’s foreign exchange reserve fluctuation. Theunwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forwardcontract due to change in its real demand, client to fully or partially closeits forward position by executing another deal with opposite direction to theoriginal contract. Therolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract dueto change in its real demand. Theoutstanding amount of forward foreign exchange settlement and sales by the endof the current period refers to the total amount of forwardcontracts accumulated from all non-matured forward contracts with client. Thenewly signed contractamount and the outstanding amount should satisfy the equationthat: theoutstanding amount of forward foreign exchange settlement and sales by the endof the current period = theoutstanding amount of forward foreign exchange settlement and sales at the endof the previous period + the newly signed contract amount of forward foreignexchange settlement and sales for the period - settlements of forwardcontracts for foreign exchange settlement and sales for the period - the unwindamount of forward foreign exchange settlement and sales for the period. The net Deltaexposure of outstanding options refers to the implied foreignexchange spot risk exposure from outstanding option contracts that bank executedwith client. Bank shall hedge such risk in the foreign exchange market for risk management during deal life cycle. The cross-borderreceipts and payments bynon-banking sectors refers to the receipts andpayments between domestic non-banking sectors (including institutional and individual residents)and non-residentsthrough domestic banks, excluding receipts and payments in cash. In particular,the statisticsincludescross-border receipts and payments between non-banking sectors andnon-residents through domestic banks (including RMB and foreign currency), and domesticreceipts and payments between non-banking sectors and non-residents throughdomestic banks (temporarily excluding domestic receipts and payments in RMBbetween individual residents and non-resident individuals). Data are collected whencustomers conduct receipts and payments with non-resident counterparties atdomestic banks. Specifically, the receipts refer to the capitalof non-bankingsectors received fromnon-residents via domestic banks; the payments refer to the capitalof non-bankingsectors paid to non-residents via domestic banks. Thecross-border receipts and payments by non-banking sectors is based on cash basis,different from the accrual basis required by the Balance of Payments Statistics. The statisticsmerely reflects the cashflows between non-banking sectors and non-residents and does not include bartertransactions or transactions with non-residents conducted by the banksthemselves. Therefore,the scope of thestatistics is narrower than that of the Balance of Payments Statistics. 2019-10-25/en/2019/1025/1576.html
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From 2020, State Administration of Foreign Exchange will no longer release "Direct investments in Financial Sector (time series)". The available data can be found in "The time-series data of Balance of Payments of China" and "The time-series data of International Investment Position of China". Direct investments in Financial Sector (time series)-in US dollar Direct investments in Financial Sector (time series)-in RMB 2019-11-15/en/2019/0816/1578.html
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The State Administration of Foreign Exchange (SAFE) has recently released the data on banks' foreign exchange settlement and sales as well as their foreign-related receipts and payments for customers for August 2019. Wang Chunying, SAFE Press Spokesperson and Chief Accountant, answered relevant media questions. Q: Could you brief us on the changes in China's foreign exchange receipts and payments for August 2019? A: In this month, the deficit in banks' foreign exchange settlement and sales contracted and the foreign exchange market maintained a basic equilibrium between supply and demand. Despite a higher deficit in foreign-related receipts and payments recorded in the non-banking sector including individuals and enterprises, the foreign exchange market sustained a basic equilibrium between supply and demand, considering foreign exchange receipts and payments in the banking sector. On the one hand, the deficit in banks' foreign exchange settlement and sales shrank steadily, reaching a slight USD 5.4 billion in August, down by 12% month-on-month and 64% year-on-year. On the other hand, foreign exchange reserves stayed stable and hit USD 3.1072 trillion by the end of August, up by USD 3.5 billion month-on-month. Foreign exchange market expectations remained stable and foreign exchange supply and demand through major channels were steady and orderly. Market players' desire to settle foreign exchange was reinforced and their desire to sell foreign exchange remained stable. In August, the foreign exchange settlement ratio, measure of players' desire to settle foreign exchange, or the ratio of foreign exchange sold by customers to banks to their foreign-related foreign exchange receipts, stood at 73%, up by 6 percentage points month-on-month. The foreign exchange sales ratio, measure of players' desire to purchase foreign exchange, or the ratio of foreign exchange bought by customers from banks to their foreign-related foreign exchange payments, arrived at 69%, consistent with a month earlier. Under this context, trade in goods and direct investment remained as the major contributors to the surplus in foreign exchange settlement and sales for the month; enterprises' purchases of foreign exchange with ROI represented a seasonal decline; individuals' settlement of foreign exchange rose by 8% year-on-year and their purchases of foreign exchange fell by 17%. China's foreign exchange market remained stable, which was more obvious amid the complex and changing external environment. Despite more fluctuating external environment since the beginning of August, China's foreign exchange market was in a good order, and market players' trading behaviors were rational and orderly, indicating China's foreign exchange market was more mature and more adaptable to changes in external environment and also suggesting the significant support from China's economic fundamentals. Going forward, we will work to ensure the continuity and stability of China's foreign exchange administration policies, further liberalize and facilitate cross-border trade and investment, refine the management framework for cross-border capital flows that are aligned with a higher level of opening, so as to further solidify the foundation for stable performance of China's foreign exchange market. 2019-09-19/en/2019/0919/1567.html
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In the Second quarter of 2019, inflows and outflows of inward foreign direct investments indomestic financial institutions amounted to RMB 31,563 million and RMB 21,428 million respectively, resulting in a net inflow of RMB 10,134 million.Outflows and inflows of outward foreign direct investments by domestic financial institutions amounted to RMB 33,861 million and RMB 26,352 million respectively, resulting in a net outflow of RMB 7,508 million (see table 1). In the US dollar terms, in the second quarter of 2019, inflows and outflows of inward foreign direct investments in domestic financial institutions amounted to USD 4,632 million and USD 3,145 million respectively, resulting in a net inflow of USD 1,487 million.Outflows and inflows of outward foreign direct investments by domestic financial institutions amounted to USD 4,969 million and USD 3,868 million respectively, resulting in a net outflow of USD 1,102 million (see table 2). Table1: Foreign Direct Investment Flows in Financial Sector(Quarterly) Unit:RMB 100 million Item Q2 2019 Net Flows of Inward Foreign Direct Investment in domestic financial institutions 101.34 Inflows 315.63 Outflows 214.28 Net Flows of Outward Foreign Direct Investment from domestic financial institutions -75.08 Inflows 263.52 Outflows 338.61 Notes: 1.This table employs rounded-off numbers. 2.The RMB value of quarterly flows is converted from the correspondent USD value for the quarter, the conversion rate is the quarterly average central parity rate of RMB against USD. 3.Net flow is the difference between inflow and outflow; the positive value represents net inflow, and the negative represents net outflow. Table2: Foreign Direct Investment Flows in Financial Sector(Quarterly) Unit:USD 100 million Item Q2 2019 Net Flows of Inward Foreign Direct Investment in domestic financial institutions 14.87 Inflows 46.32 Outflows 31.45 Net Flows of Outward Foreign Direct Investment from domestic financial institutions -11.02 Inflows 38.68 Outflows 49.69 Notes:1. This table employs rounded-off numbers. 2.Net flow is the difference between inflow and outflow; the positive value represents net inflow, and the negative represents net outflow. Appendix:Glossary Financialinstitutions include the headquarters,branches, and subsidiaries of institutions engaging in banking, securities, insurance, and other financial businesses which are established within the territory of China according to the law. Direct investments of financial institutions refer to equity or bond investments either by foreign investors in China’s domestic financial institutions or by China’s domestic financial institutions in overseas enterprises, which enable the investors to have voting rights of 10 percent or more in the invested enterprises. The table of Direct Investment Flows of Financial Institutions exhibits the data on equity or bond investment flows of inward and outward foreign direct investments (excluding profit reinvestments). Specifically, the inflows of inward foreign direct investment refer to the equity or bond investments made or increased by foreign investors in China’s domestic financial institutions; the outflows of inward foreign direct investment refer to the equity or bond investments decreased or withdrawn by foreign investors from China’s domestic financial institutions. The outflows of outward foreign direct investment refer to the equity or bond investments made or increased by China’s domestic financial institutions in overseas enterprises; the inflows of outward foreign direct investment refer to the equity or bond investments decreased or withdrawn by China’s domestic financial institutions from overseas enterprises. 2019-08-16/en/2019/1029/1577.html
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The State Administration of Foreign Exchange (SAFE) has recently disseminated China's external debt data as at the end of June 2019. The SAFE spokesperson and Chief Economist Wang Chunying answered media questions on China’s recent external debt situations. Q: Could you brief us on China's external debt data for the second quarter of 2019? A: In the second quarter of 2019, China posted slight growth in external debt. As at the end of June, China's full-scale outstanding external debt denominated in both domestic and foreign currencies amounted to USD 1.998 trillion, up by USD 26.3 billion or 1.3% from the end of March, mainly due to the growth in the balance of debt securities. Overall, China's external debt structure has been optimized, strengthening the stability of external debt. Since RMB bonds issued within China were included in the Bloomberg Barclays Global Aggregate (BBGA) in April 2019, global investors have raised their recognition of China's bonds market and invested more in RMB bonds issued within China. In the second quarter, over 70% of China's full-scale external debt increments were driven by the purchases of domestic RMB bonds by non-residents, especially mid and long-term investors like central banks, facilitating continuous optimization of external debt structure. By the end of June, the ratio of mid and long-term external debt had risen by 3 percentage points quarter-on-quarter, and the ratio of external debt in RMB terms, 1 percentage point quarter-on-quarter. China's major external debt metrics were all within the internationally accepted security ranges, indicating the external debt risk is controllable on the whole. In the year to date, China's economic performance has improved while staying stable, with the economic structure constantly optimized, showing the great resilience, potential and leeway for economic growth. The balance of payments has maintained overall equilibrium, revealing risks associated with external debt are controllable. Going forward, the SAFE will continue deepening the foreign exchange administration reform and advancing financial liberalization, while guarding against the risks arising from abnormal cross-border capital flows, to ensure China's economic and financial security. 2019-09-27/en/2019/0927/1573.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 transaction of RMB 15.01 trillion (equivalent to USD 2.12 trillion) in September 2019. Specifically, the transaction volume of the bank to customer market was RMB 2.56 trillion (equivalent to USD 361.1 billion), the transaction volume of interbank marketwas RMB 12.45 trillion (equivalent to USD 1.76 trillion), the cumulative transaction volume of the spot market was RMB 6.13 trillion (equivalent to USD 865.5billion), and that of the derivatives market was RMB 8.88 trillion (equivalentto USD 1.25 trillion). From January to September 2019, a total of RMB 153.82 trillion (equivalent to USD 22.47 trillion) was traded in the Chinese foreign exchangemarket. 2019-10-25/en/2019/1025/1575.html
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In August 2022, the export and import of China’s international trade in goods and services totalled RMB 4026.5 billion, up 9 percent over the same time last year. Of this, the export of goods recorded RMB 1999.1 billion and the import recorded RMB 1526.3 billion, resulting in a surplus of RMB 472.7 billion. The export of services recorded RMB 222.7 billion and the import recorded RMB 278.5 billion, resulting in a deficit of RMB 55.8 billion. In terms of the major items, the export and import of transport, other business services, travel and telecommunications, computer and information services registered RMB 190.5 billion, RMB 81.1 billion, RMB 80.4 billion and RMB 57.1 billion respectively. In the US dollar terms, in August 2022, the export and import of China’s international trade in goods and services were USD 326.9 billion and USD 265.6 billion respectively, with a surplus of USD 61.4 billion. (End) International Trade in Goods and Services of China August 2022 Item In 100 million of RMB In 100 million of USD Goods and services 4169 614 Credit 22217 3269 Debit -18048 -2656 1. Goods 4727 696 Credit 19991 2942 Debit -15263 -2246 2. Services -558 -82 Credit 2227 328 Debit -2785 -410 2.1 Manufacturing services on physical inputs owned by others 77 11 Credit 83 12 Debit -6 -1 2.2 Maintenance and repair services n.i.e 31 5 Credit 52 8 Debit -20 -3 2.3 Transport -119 -18 Credit 893 131 Debit -1012 -149 2.4 Travel -683 -100 Credit 61 9 Debit -744 -109 2.5 Construction 39 6 Credit 88 13 Debit -49 -7 2.6 Insurance and pension services -62 -9 Credit 15 2 Debit -77 -11 2.7 Financial services 5 1 Credit 27 4 Debit -23 -3 2.8 Charges for the use of intellectual property -129 -19 Credit 136 20 Debit -265 -39 2.9 Telecommunications, computer and information services 92 14 Credit 331 49 Debit -239 -35 2.10 Other business services 239 35 Credit 525 77 Debit -286 -42 2.11 Personal, cultural, and recreational services -6 -1 Credit 7 1 Debit -13 -2 2.12 Government goods and services n.i.e -42 -6 Credit 9 1 Debit -51 -7 Notes: 1. The 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. 2022-09-30/en/2022/0930/2002.html