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In the first quarter of 2020, China's current account registered a deficit of RMB 235.2 billion, and the capital and financial accounts recorded a surplus of RMB 77.4 billion. In SDR terms, in the first quarter of 2020, China posted a deficit of SDR 25.0 billion under the current account, and a surplus of SDR 8.2 billion under the capital and financial accounts. In the US dollar terms, in the first quarter, China's current account recorded a deficit of USD 33.7 billion, including a surplus of USD 23.1 billion under trade in goods, a deficit of USD 47.0 billion under trade in services, a deficit of USD 11.3 billion under primary income and a surplus of USD 1.6 billion under secondary income. The capital and financial accounts recorded a surplus of USD 11.1 billion, including a deficit of USD 100 million under the capital account, a surplus of USD 16.3 under direct investment, a deficit of USD 53.2 billion under portfolio investment, a deficit of USD 4.6 billion under financial derivatives, a surplusof USD 27.7 billion under other investment, and reserves assets decreased by USD 25.1 billion. (End) Abridged Balance of Payments, Q1 2020 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 -2,352 -337 -250 Credit 2 38,797 5,559 4,128 Debit 3 -41,148 -5,896 -4,379 1. A Goods and Services 4 -1,671 -239 -178 Credit 5 36,312 5,203 3,864 Debit 6 -37,983 -5,442 -4,042 1.A.a Goods 7 1,612 231 172 Credit 8 32,513 4,659 3,460 Debit 9 -30,901 -4,428 -3,288 1.A.b Services 10 -3,283 -470 -349 Credit 11 3,799 544 404 Debit 12 -7,082 -1,015 -754 1.B Primary Income 13 -791 -113 -84 Credit 14 1,845 264 196 Debit 15 -2,636 -378 -281 1.C Secondary Income 16 111 16 12 Credit 17 640 92 68 Debit 18 -529 -76 -56 2. Capital and Financial Account 19 774 111 82 2.1 Capital Account 20 -6 -1 -1 Credit 21 1 0 0 Debit 22 -8 -1 -1 2.2 Financial Account 23 781 112 83 Assets 24 -3,574 -512 -380 Liabilities 25 4,355 624 463 2.2.1 Financial Account Excluding Reserve Assets 26 -968 -139 -103 2.2.1.1 Direct Investment 27 1,138 163 121 Assets 28 -1,257 -180 -134 Liabilities 29 2,394 343 255 2.2.1.2 Portfolio Investment 30 -3,712 -532 -395 Assets 31 -3,595 -515 -383 Liabilities 32 -117 -17 -12 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 -324 -46 -35 Assets 34 -245 -35 -26 Liabilities 35 -79 -11 -8 2.2.1.4 Other Investment 36 1,931 277 205 Assets 37 -226 -32 -24 Liabilities 38 2,157 309 230 2.2.2 Reserve Assets 39 1,749 251 186 3. Net Errors and Omissions 40 1,577 226 168 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 difference is the sum of the "Credit" and the"Debit". All items herein refer to difference, unless marked with"Credit" or "Debit". 3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data for the quarter using the 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 denominatedBOP data for the quarter using the 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 the section of “Dataand Statistics”at the website of the SAFE. 2020-06-24/en/2020/0624/1710.html
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As at the end of March 2020, China's banking sector recorded external financial assets of USD 1207.5 billion, external liabilities of USD 1348.3 billion, and net external liabilities of USD 140.8 billion including net RMB liabilities of USD 330.6 billion and net foreign currency assets of USD 189.8 billion. Among the external financial assets of the banking sector, deposits and loans were USD 869.1 billion, bonds investment, USD 175.9 billion, and other assets including equity, USD 162.5 billion, accounting for 72percent, 15 percent and 13 percent of the sector's total external financial assets respectively. By currency, RMB assets were USD 125.3 billion, USD assets, USD 821.6 billion, and other currency assets, USD 260.6 billion, accounting for 10 percent,68 percent and 22 percent respectively. Among the external financial assets of the banking sector, the amount invested in the overseas banking sector was USD 611.4 billion, accounting for 51 percent; the amount invested in the overseas non-banking sector was USD 596.1 billion, accounting for 49 percent. Among the external liabilities of the banking sector, deposits and loans were USD 767.4 billion, bonds investment, USD 207.1 billion, and other liabilities including equity, USD 373.8 billion, accounting for 57 percent, 15 percent and 28 percent of the sector's total external liabilities respectively. By currency, RMB liabilities were USD 455.9 billion, USD liabilities, USD 540.7 billion, and other currency liabilities, USD 351.7 billion, accounting for 34 percent, 40 percent and 26 percent respectively. Among the external liabilities of China's banking sector, USD 572.8 billion was from overseas banking sector, accounting for 42 percent; while USD 775.5billion was from overseas non-banking sector, accounting for 58 percent. (End) 2020-06-29/en/2020/0629/1714.html
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External_Financial_Assets_and_Liabilities_of_China's_Banking_Sector_(As_of_March_31_2020) 2020-06-29/en/2020/0629/1713.html
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According to the statisticsof the State Administration of Foreign Exchange (SAFE), the Chinese foreignexchange market (excluding foreign currency pairs, the same below) recorded totaltransactions of RMB 15.67 trillion (equivalent to USD 2.21 trillion) in May 2020. Specifically,the transactions volume of the bank to customer market was RMB 2.33 trillion (equivalent toUSD 328.0 billion), the transactionsvolume of interbank market was RMB 13.34 trillion (equivalent to USD 1.88 trillion), the cumulativetransactions volume of the spot market was RMB 5.81 trillion (equivalent to USD 817.7 billion), and that ofthe derivatives market was RMB 9.86 trillion (equivalent to USD 1.39 trillion). From January to May 2020, a total of RMB 74.96 trillion (equivalent to USD 10.67 trillion) was traded in the Chinese foreignexchange market. 2020-06-19/en/2020/0619/1707.html
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In August 2020, China’s international trade in goods and services recorded receipts of RMB 1692.9 billion and payments of RMB 1380.8 billion based on statistics of balance of payments (BOP), registering a surplus of RMB 312.1 billion. Specifically, trade in goods registered receipts of RMB 1567.7 billion, payments of RMB 1162.1 billion, recording a surplus of RMB 405.6 billion; trade in services recorded receipts of RMB 125.2 billion, payments of RMB 218.6 billion, resulting in a deficit of RMB 93.4 billion. In the US dollar terms, in August 2020, China's BOP-based receipts and payments of international trade in goods and services were USD 244.2 billion and USD 199.1 billion respectively, registering a surplus of USD 45 billion. Specifically, the receipts and payments from trade in goods were USD 226.1 billion and USD 167.6 billion respectively, resulting in a surplus of USD 58.5 billion. Trade in services registered receipts and payments of USD 18.1 billion and USD 31.5 billion respectively, recording a deficit of USD 13.5 billion. (End) International Trade in Goods and Services of China (Based on the BOP statistics) August 2020 Item In 100 million of RMB In 100 million of USD Goods and services 3121 450 Credit 16929 2442 Debit -13808 -1991 1. Goods 4056 585 Credit 15677 2261 Debit -11621 -1676 2. Services -934 -135 Credit 1252 181 Debit -2186 -315 2.1Manufacturing services on physical inputs owned by others 69 10 Credit 72 10 Debit -3 0 2.2Maintenance and repair services n.i.e 19 3 Credit 37 5 Debit -18 -3 2.3Transport -240 -35 Credit 310 45 Debit -549 -79 2.4Travel -609 -88 Credit 125 18 Debit -734 -106 2.5Construction 24 3 Credit 56 8 Debit -32 -5 2.6Insurance and pension services -67 -10 Credit 33 5 Debit -100 -14 2.7Financial services -1 0 Credit 23 3 Debit -24 -4 2.8Charges for the use of intellectual property -190 -27 Credit 37 5 Debit -227 -33 2.9Telecommunications, computer and information services 21 3 Credit 197 28 Debit -176 -25 2.10Other business services 62 9 Credit 351 51 Debit -289 -42 2.11Personal, cultural, and recreational services -14 -2 Credit 4 1 Debit -18 -3 2.12Government goods and services n.i.e -8 -1 Credit 7 1 Debit -15 -2 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-life insurance, 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 to communications 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. 2020-09-29/en/2020/0929/1757.html
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In the second quarter of 2020, China's current account registered a surplus of RMB 780.4 billion, and the capital and financial accounts recorded a deficit of RMB 244.3 billion.The financial account (excluding reserve assets) recorded a deficit of RMB 108.6 billion, and reserve assets rose by RMB 135.6 billion. In the first half of 2020, China's current account registered a surplus of RMB 545.3 billion, and the capital and financial accounts recorded a deficit of RMB 166.8 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 205.4 billion, and reserve assets decreased by RMB 39.3 billion. In SDR terms, in the second quarter of 2020, China posted a surplus of SDR 80.5 billion under the current account, and a deficit of SDR 25.2 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 11.2 billion, and reserves assets rose by SDR 14 billion. In SDR terms, in first half of 2020, China posted a surplus of SDR 55.5 billion under the current account, and a deficit of SDR 16.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 21.5 billion, and a decrease of SDR 4.6 billion under reserves assets. In the US dollar terms, in the second quarter of 2020, China's current account recorded a surplus of USD 110.2 billion, including a surplus of USD 161.3 billion under trade in goods, a deficit of USD 29.5 billion under trade in services, a deficit of USD 22.5 billion under primary income, and a surplus of USD 900 million under secondary income. The capital and financial accounts recorded a deficit of USD 34.5 billion, including a deficit of USD 10 million under the capital account, a deficit of USD 15.3 billion under the financial account (excluding reserve assets), and an increase of USD 19.1 billion under reserves assets. In the US dollar terms, in the first half of 2020, China's current account recorded a surplus of USD 76.5 billion, including a surplus of USD 184.4 billion under trade in goods, a deficit of USD 76.6 billion under trade in services, a deficit of USD 33.9 billion under primary income, and a surplus of USD 2.5 billion under secondary income. The capital and financial accounts recorded a deficit of USD 23.4 billion, including a deficit of USD 100 million under the capital account, a deficit of USD 29.2 billion under the financial account (excluding reserve assets), and a decrease of USD 5.9 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 2020 (in Chinese). (End) Abridged Balance of Payments of China, Second Quarter of 2020 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 7,804 1,102 805 Credit 2 52,447 7,403 5,408 Debit 3 -44,642 -6,302 -4,603 1. A Goods and Services 4 9,336 1,318 963 Credit 5 46,728 6,596 4,818 Debit 6 -37,392 -5,278 -3,856 1.A.a Goods 7 11,427 1,613 1,178 Credit 8 42,777 6,038 4,411 Debit 9 -31,351 -4,425 -3,233 1.A.b Services 10 -2,090 -295 -216 Credit 11 3,951 558 407 Debit 12 -6,041 -853 -623 1.B Primary Income 13 -1,597 -225 -165 Credit 14 5,140 726 530 Debit 15 -6,737 -951 -695 1.C Secondary Income 16 66 9 7 Credit 17 579 82 60 Debit 18 -514 -73 -53 2. Capital and Financial Account 19 -2,443 -345 -252 2.1 Capital Account 20 -1 0 0 Credit 21 3 0 0 Debit 22 -4 0 0 2.2 Financial Account 23 -2,441 -345 -252 Assets 24 -9,730 -1,373 -1,003 Liabilities 25 7,288 1,029 752 2.2.1 Financial Account Excluding Reserve Assets 26 -1,086 -153 -112 2.2.1.1 Direct Investment 27 333 47 34 Assets 28 -2,066 -292 -213 Liabilities 29 2,399 339 247 2.2.1.2 Portfolio Investment 30 3,006 424 310 Assets 31 -1,671 -236 -172 Liabilities 32 4,676 660 482 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 -317 -45 -33 Assets 34 -251 -35 -26 Liabilities 35 -66 -9 -7 2.2.1.4 Other Investment 36 -4,108 -580 -424 Assets 37 -4,386 -619 -452 Liabilities 38 279 39 29 2.2.2 Reserve Assets 39 -1,356 -191 -140 3. Net Errors and Omissions 40 -5,362 -757 -553 Notes: 1.The statement is compiled according to BPM6. Reserve assets are included incapital 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. Abridged China’s Balance of Payments, First Half of 2020 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 5,453 765 555 Credit 2 91,243 12,962 9,536 Debit 3 -85,790 -12,198 -8,982 1. A Goods and Services 4 7,665 1,078 785 Credit 5 83,040 11,799 8,682 Debit 6 -75,375 -10,721 -7,897 1.A.a Goods 7 13,039 1,844 1,350 Credit 8 75,290 10,697 7,871 Debit 9 -62,252 -8,853 -6,521 1.A.b Services 10 -5,374 -766 -565 Credit 11 7,750 1,102 812 Debit 12 -13,123 -1,868 -1,377 1.B Primary Income 13 -2,388 -339 -249 Credit 14 6,985 990 726 Debit 15 -9,373 -1,329 -975 1.C Secondary Income 16 176 25 19 Credit 17 1,219 173 128 Debit 18 -1,042 -148 -109 2. Capital and Financial Account 19 -1,668 -234 -169 2.1 Capital Account 20 -7 -1 -1 Credit 21 4 1 0 Debit 22 -11 -2 -1 2.2 Financial Account 23 -1,661 -233 -169 Assets 24 -13,304 -1,886 -1,384 Liabilities 25 11,643 1,653 1,215 2.2.1 Financial Account Excluding Reserve Assets 26 -2,054 -292 -215 2.2.1.1 Direct Investment 27 1,471 210 155 Assets 28 -3,323 -472 -347 Liabilities 29 4,794 682 502 2.2.1.2 Portfolio Investment 30 -707 -108 -85 Assets 31 -5,266 -751 -555 Liabilities 32 4,559 643 470 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 -642 -91 -67 Assets 34 -497 -71 -52 Liabilities 35 -145 -21 -15 2.2.1.4 Other Investment 36 -2,177 -303 -218 Assets 37 -4,612 -652 -476 Liabilities 38 2,436 348 258 2.2.2 Reserve Assets 39 393 59 46 3. Net Errors and Omissions 40 -3,785 -531 -385 Notes: 1.The statement is compiled according to BPM6. Reserve assets are included incapital 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. 2020-09-25/en/2020/0925/1754.html
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As at the end of June 2020, China recorded RMB 15.0964 trillion in outstanding external debt denominated in both domestic and foreign currencies (equivalent to USD 2.1324 trillion, excluding those of Hong Kong SAR China, Macao SAR China, and Taiwan Province China, the same below). With respect to the term structure, the outstanding medium-and long-term external debt was RMB 6.4352 trillion (USD 909 billion), accounting for 43%; while the outstanding short-term external debt was RMB 8.6612 trillion (USD 1.2234 trillion), taking up 57%, including 39% trade-related credit. In terms of institutions and sectors, the outstanding debt of government totaled RMB 2.088 trillion (USD 294.9 billion), accounting for 14%; the outstanding debt of the central bank totaled RMB 282.5 billion(USD 39.9 billion), accounting for 2%; the outstanding debt of banks totaled RMB 7.0348 trillion (USD 993.7 billion), taking up 46%; the outstanding debt of other sectors (including inter-company lending under direct investments) totaled RMB 5.6911 trillion (USD 803.9 billion), taking up 38%; In terms of debt instruments, the outstanding of loans was RMB 3.3696 trillion (USD 476 billion), accounting for 22%; the outstanding of trade credit and prepayment was RMB 2.2945 trillion (USD 324.1 billion), accounting for 15%; the outstanding of currency and deposits was RMB 3.2072 trillion (USD 453 billion), accounting for 21%; the outstanding of debt securities was RMB 4.0123 trillion (USD 566.7 billion), accounting for 27%; the Special Drawing Rights (SDR) allocation amounted to RMB 67.9 billion (USD 9.6 billion), accounting for 0.5%. The outstanding debt of inter-company lending under direct investments totaled RMB 1.7324 trillion (USD 244.7 billion), accounting for 11.5%; and the outstanding of other debt liabilities was RMB 412.5 billion (USD 58.3 billion), accounting for 3%. With respect to currency structures, the outstanding external debt in domestic currency totaled RMB 5.6899 trillion (USD 803.7 billion), accounting for 38%; the outstanding external debt in foreign currencies (including SDR allocation) totaled RMB 9.4065 trillion (USD 1.3287 trillion), accounting for 62%. In the total outstanding registered external debt in foreign currencies, the USD debt accounted for 84%, the Euro debtaccounted for 7%, the HKD debt accounted for 4%, the JPY debt accounted for 2%, the SDR and other foreign currency-denominated external debt accounted for 3%. China’s major external debt metrics were all within the internationally recognized thresholds, indicating that the external debt risk is controllable on thewhole. For the interpretation of China's outstanding external debt data at the end of June 2020, please refer to the "China's Balance of Payments Report for the First Half of 2020(in Chinese)". Appendix Definition of terms and interpretations External debt classification by term structure. There are two methods to classify the external debt byterm structure. One is on the basis of the contract term,i.e. it is classified as medium- and long-term external debt if the contract term is over one year, and classified as short-term external debt if the contract term is one year or less; the other is on the basis of the remaining term, i.e.,on the basis of the contract term classification method above, the medium- and long-term external debt due within one year is classified as short-term external debt. In this news release, external debt is divided into medium- and long-term external debt and short-term external debt based on the contract term. Trade-related credit is a broad concept. In addition to trade credit and prepayment, it also involves other kinds of credit provided for trade activities. As it is defined,trade-related credit includes trade credit and prepayment, bank trade financing, short-term notes related to trade, and so forth. In particular, trade credit and prepayment refer to external liability arising from directly extending credit between the seller and buyer of goods transactions, specifically transactions between residents in the Chinese Mainland and overseas non-residents (including non-residents in Hong Kong SAR, Macao SAR, and Taiwan Province), i.e., the debt incurred due to the difference between the time of payment and the time of the goods ownership transfer, which include credit directly provided by the supplier (e.g., the overseas exporter) for goods and services, and advance payments made by buyers(e.g., overseas importers) for goods, services, and on-going business (or business to be undertaken). Bank trade financing refers to trade related loans that offered by a third party(e.g., banks) to exporters or importers, for instance, loans extended by foreign financial institutions or export credit agencies to buyers. Annexed table：China’s Gross External Debt Position by Sector, End of June 2020 End of June 2020 End of June 2020 （Unit:100 million RMB） （Unit:100 million US dollars） General Government 20880 2949 Short-term 739 104 Currency and deposits 0 0 Debt securities 739 104 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 0 0 Long-term 20141 2845 Currency and deposits 0 0 Debt securities 0 0 Loans 16913 2389 Trade credit and advances 3228 456 Other debt liabilities 0 0 Currency and deposits 0 0 Central Bank 2825 399 Short-term 1784 252 Currency and deposits 835 118 Debt securities 949 134 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 0 0 Long-term 1041 147 Special drawing rights 680 96 Currency and deposits 0 0 Debt securities 0 0 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 361 51 Other Depository Corporations 70348 9937 Short-term 52188 7372 Currency and deposits 31230 4411 Debt securities 3527 498 Loans 16689 2358 Trade credit and advances 0 0 Other debt liabilities 742 105 Long-term 18160 2565 Currency and deposits 0 0 Debt securities 12516 1768 Loans 5570 787 Trade credit and advances 0 0 Other debt liabilities 74 10 Other Sectors 39587 5592 Short-term 27683 3910 Currency and deposits 7 1 Debt securities 128 18 Loans 3475 491 Trade credit and advances 22541 3184 Other debt liabilities 1532 216 Long-term 11904 1682 Currency and deposits 0 0 Debt securities 5351 756 Loans 4734 669 Trade credit and advances 404 57 Other debt liabilities 1415 200 Direct Investment: Intercompany Lending 17324 2447 Debt liabilities of direct investment enterprises to direct investors 10618 1500 Debt liabilities of direct investors to direct investment enterprises 804 113 Debt liabilities to affiliated enterprises 5902 834 Gross External Debt Position 150964 21324 Notes: 1. The short-term and long-term herein are broken down by contractual (original) maturity. 2. The data in this table have been rounded off. 2020-09-25/en/2020/0925/1753.html
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As at the end of June 2020, China’s external financial assets reached USD 7860.2 billion, external financial liabilities reached USD 5660.5 billion, and net external assets totaled USD 2199.7 billion. In the external financial assets, direct investment assets amounted to USD 2124.7 billion, portfolio investment assets, USD 700.6 billion, financial derivative assets, USD 9.9 billion, other investment assets, USD 1781.7 billion, and reserves assets, USD 3243.3 billion, accounting for 27 percent, 9 percent, 0.1 percent, 23 percent and 41 percent of external financial assets respectively. In external liabilities, direct investment liabilities were USD 2947.2 billion, portfolio investment liabilities, USD 1378.3 billion, financial derivative liabilities, USD 10.7 billion and other investment liabilities, USD 1324.4 billion, accounting for 52 percent, 24 percent, 0.2 percent and 23 percent of the external financial liabilities respectively. In SDR terms, China’s external financial assets and liabilities reached SDR 5713.6 billion and SDR 4114.7 billion respectively, and external net assets totaled SDR 1599 billion at the end of June 2020. (End) China's International Investment Position, End of June 2020 Item Line No. Position in 100 million USD Position in 100 million SDR Net Position 1 21,997 15,990 Assets 2 78,602 57,136 1 Direct Investment 3 21,247 15,444 1.1 Equity and Investment Fund Shares 4 18,023 13,101 1.2 Debt Instruments 5 3,224 2,343 1.a Financial Sectors 6 2,751 2,000 1.1.a Equity and Investment Fund Shares 7 2,664 1,937 1.2.a Debt Instruments 8 87 63 1.b Non-financial Sectors 9 18,496 13,444 1.1.b Equity and Investment Fund Shares 10 15,359 11,164 1.2.b Debt Instruments 11 3,137 2,280 2 Portfolio Investment 12 7,006 5,093 2.1 Equity and Investment Fund Shares 13 4,106 2,984 2.2 Debt Securities 14 2,900 2,108 3 Financial Derivatives (other than reserves) and Employee Stock Options 15 99 72 4 Other Investment 16 17,817 12,951 4.1 Other Equity 17 84 61 4.2 Currency and Deposits 18 4,162 3,026 4.3 Loans 19 7,488 5,443 4.4 Insurance, Pension, and Standardized Guarantee Schemes 20 164 119 4.5 Trade Credit and Advances 21 5,290 3,845 4.6 Others 22 628 457 5 Reserve Assets 23 32,433 23,576 5.1 Monetary Gold 24 1,108 805 5.2 Special Drawing Rights 25 110 80 5.3 Reserve Position in the IMF 26 96 70 5.4 Foreign Exchange Reserves 27 31,123 22,624 5.5 Other Reserve Assets 28 -3 -2 Liabilities 29 56,605 41,147 1 Direct Investment 30 29,472 21,423 1.1 Equity and Investment Fund Shares 31 26,902 19,555 1.2 Debt Instruments 32 2,570 1,868 1.a Financial Sectors 33 1,633 1,187 1.1.a Equity and Investment Fund Shares 34 1,447 1,052 1.2.a Debt Instruments 35 186 135 1.b Non-financial Sectors 36 27,839 20,236 1.1.b Equity and Investment Fund Shares 37 25,455 18,503 1.2.b Debt Instruments 38 2,384 1,733 2 Portfolio Investment 39 13,783 10,019 2.1 Equity and Investment Fund Shares 40 8,471 6,157 2.2 Debt Securities 41 5,312 3,862 3 Financial Derivatives (other than reserves) and Employee Stock Options 42 107 77 4 Other Investment 43 13,244 9,627 4.1 Other Equity 44 0 0 4.2 Currency and Deposits 45 4,545 3,304 4.3 Loans 46 4,827 3,509 4.4 Insurance, Pension, and Standardized Guarantee Schemes 47 147 106 4.5 Trade Credit and Advances 48 3,241 2,356 4.6 Others 49 388 282 4.7 Special Drawing Rights 50 96 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 netliabilities. 3.The SDR denominated data is converted from the USD denominated data, using the exchange rate of SDR againstUSD at the end of the quarter. 2020-09-25/en/2020/0925/1755.html
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The State Administration of Foreign Exchange (SAFE) has recently released the data on banks' foreign exchange settlements and sales and banks' foreign-related receipts and payments for customers for August 2020. The SAFE deputy administrator and press spokesperson Wang Chunying answered media questions on foreign exchange receipts and payments for August 2020. Q: Could you brief us on the changes in China's foreign exchange receipts and payments for August 2020? A: The supply and demand of foreign exchange reached a basic equilibrium in August. Firstly, banks’ foreign exchange settlements and sales posted a deficit of US$ 3.8 billion, down by 29% year on year. Given foreign exchange trading of foreign institutions in the inter-bank foreign exchange market and changes in banks’ foreign exchange positions, the supply and demand of the foreign exchange market was generally balanced. Secondly, the cross-border capital of non-banking sectors registered a net inflow of US$ 12.7 billion, marking a recent high. Thirdly, foreign exchange reserves increased steadily, reaching US$ 3.1646 trillion by the end of August, up by US$ 10.2 billion month on month. Cross-border capital flows through major channels continued to present positive changes. First, cross-border receipts and payments under trade in goods registered a rising surplus. In August, the surplus in cross-border receipts and payments under trade in goods grew 1.1 times year on year. Specifically, receipts from trade in goods rose by 2.6%, and payments decreased by 3.1%. Second, the seasonal peak of corporate dividend payout came to an end. In August, the deficit in foreign exchange settlements and sales of income and current transfer decreased by 34% month on month, mainly due to the 39% reduction in foreign exchange purchase with investment income. Third, foreign investments in the domestic bonds market remained high. In August, foreign investors increased their net holdings of domestic bonds by US$ 21 billion, higher than the average historical level. Currently, there are still many destabilizing and uncertain factors in the external environment. However, China’s significant institutional advantages, sound long-term economic prospects, broad market space and strong resilience in development are expected to provide a fundamental support for the stability of China’s foreign exchange market. China will gradually form a new development pattern, featured as domination by domestic cycle and mutual promotion between domestic and international cycle, which will help China’s current account to broadly remain within a reasonable range. Steady progress has been made in the two-way opening-up of financial markets, which is conducive to balance cross-border capital flows. China’s maturing foreign exchange market, the rational and orderly transaction behaviors and the increasing elasticity of renminbi exchange rate will continue to play the role of “automatic stabilizer” in regulating the macro economy and the balance of payments. 2020-09-18/en/2020/0918/1752.html
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官方储备资产 Official reserve assets html xlsx pdf 2021-01-07/en/2020/0507/1761.html