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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 26.45 trillion (equivalent to USD 3.69 trillion) in August 2023. In terms of markets, the transactions volume of client market was RMB 3.45 trillion (equivalent to USD 0.48 trillion), and the transactions volume of interbank market was RMB 23.00 trillion (equivalent to USD 3.21 trillion). In terms of products, the cumulative transactions volume of the spot market was RMB 9.60 trillion (equivalent to USD 1.34 trillion), and that of the derivatives market was RMB 16.85 trillion (equivalent to USD 2.35 trillion). From January to August 2023, a total of RMB 173.78 trillion (equivalent to USD 24.83 trillion) was traded in the Chinese foreign exchange market. 2023-09-22/en/2023/0922/2117.html
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External Financial Assets and Liabilities of China's Banking Sector (As of June 30, 2023) 2023-09-27/en/2023/0927/2119.html
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On August 22 2023, Governor Pan Gongsheng met with South African Reserve Bank Governor Lesetja Kganyago in Pretoria. They exchanged views on issues including strengthening bilateral financial cooperation. 2023-08-28/en/2023/0828/2111.html
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On August 29, 2023, Governor Pan Gongsheng met with Michael Bloomberg, founder of the Bloomberg L.P.. They exchanged views on issues including China's bond market opening-up and sustainable finance. 2023-08-31/en/2023/0831/2112.html
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官方储备资产 Official reserve assets html xlsx pdf 2023-01-07/en/2021/0203/2113.html
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China Balance of Payment Report(2022) 2023-09-28/en/2023/0928/2122.html
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In August 2023, the export and import of China’s international trade in goods and services totalled RMB 4016.0 billion. Of this, the export of goods recorded RMB 1928.0 billion and the import recorded RMB 1543.4 billion, resulting in a surplus of RMB 384.6 billion. The export of services recorded RMB 187.1 billion and the import recorded RMB 357.5 billion, resulting in a deficit of RMB 170.5 billion. In terms of the major items, the export and import of transport, travel, other business services, telecommunications, computer and information services registered RMB 160.9 billion, RMB 152.4 billion, RMB 92.1 billion and RMB 57.4 billion respectively. In the US dollar terms, in August 2023, the export and import of China’s international trade in goods and services were USD 294.9 billion and USD 265.0 billion respectively, with a surplus of USD 29.9 billion. (End) International Trade in Goods and Servicesof China August 2023 Item In 100 million of RMB In 100 million of USD Goods and services 2142 299 Credit 21151 2949 Debit -19009 -2650 1. Goods 3846 536 Credit 19280 2688 Debit -15434 -2152 2. Services -1705 -238 Credit 1871 261 Debit -3575 -498 2.1Manufacturing services on physical inputs owned by others 65 9 Credit 70 10 Debit -5 -1 2.2Maintenance and repair services n.i.e 33 5 Credit 67 9 Debit -34 -5 2.3Transport -539 -75 Credit 535 75 Debit -1074 -150 2.4Travel -1342 -187 Credit 91 13 Debit -1433 -200 2.5Construction 12 2 Credit 63 9 Debit -51 -7 2.6Insurance and pension services -48 -7 Credit 17 2 Debit -65 -9 2.7Financial services -8 -1 Credit 23 3 Debit -31 -4 2.8Charges for the use of intellectual property -188 -26 Credit 63 9 Debit -250 -35 2.9Telecommunications, computer and information services 124 17 Credit 349 49 Debit -225 -31 2.10Other business services 235 33 Credit 578 81 Debit -343 -48 2.11Personal, cultural, and recreational services -18 -3 Credit 8 1 Debit -26 -4 2.12Government goods and services n.i.e -31 -4 Credit 7 1 Debit -38 -5 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: The International Trade in 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: processoronly 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 byinsurance 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 theother 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 audio visual and related services (films, radio,television programs and music recordings) and other personal, cultural and recreational services (health, education, etc.). The credit side records therelated 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. 2023-09-28/en/2023/0928/2124.html
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In the second quarter of 2023, China's current account registered a surplus of RMB 451.0 billion, and the capital and financial accounts recorded a deficit of RMB 353.6 billion. In the first half of 2023, China's current account registered a surplus of RMB 1008.5 billion, and the capital and financial accounts recorded a deficit of RMB 875.7 billion. In SDR terms, in the second quarter of 2023, China posted a surplus of SDR 48.2 billion under the current account, and a deficit of SDR 37.6 billion under the capital and financial accounts. In SDR terms, in first half of 2023, China posted a surplus of SDR 109.0 billion under the current account, and a deficit of SDR 94.5 billion under the capital and financial accounts. In the US dollar terms, in the second quarter of 2023, China's current account recorded a surplus of USD 64.7 billion, including a surplus of USD 163.3 billion under trade in goods, a deficit of USD 55.0 billion under trade in services, a deficit of USD 46.7 billion under primary income, and a surplus of USD 3.1 billion under secondary income. The capital and financial accounts recorded a deficit of USD 50.4 billion, including a deficit of USD 84 million under the capital account, a deficit of USD 34.1 billion under the financial account (excluding reserve assets), and an increase of USD 16.3 billion under reserves assets. In the US dollar terms, in the first half of 2023, China's current account recorded a surplus of USD 146.3 billion, including a surplus of USD 293.2 billion under trade in goods, a deficit of USD 102.2 billion under trade in services, a deficit of USD 53.3 billion under primary income, and a surplus of USD 8.5 billion under secondary income. The capital and financial accounts recorded a deficit of USD 126.7 billion, including a deficit of USD 77 million under the capital account, a deficit of USD 84.9 billion under the financial account (excluding reserve assets), and an increase of USD 41.7 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 2023 (in Chinese). (End) Abridged Balanceof Payments of China, Second Quarter of 2023 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 4510 647 482 Credit 2 65929 9397 7007 Debit 3 -61418 -8750 -6525 1. A Goods and Services 4 7602 1083 807 Credit 5 60672 8649 6449 Debit 6 -53070 -7566 -5641 1.A.a Goods 7 11464 1633 1218 Credit 8 55228 7873 5870 Debit 9 -43764 -6240 -4652 1.A.b Services 10 -3862 -550 -410 Credit 11 5443 776 579 Debit 12 -9305 -1326 -989 1.B Primary Income 13 -3311 -467 -349 Credit 14 4625 658 491 Debit 15 -7936 -1125 -840 1.C Secondary Income 16 219 31 23 Credit 17 632 90 67 Debit 18 -413 -59 -44 2. Capital and Financial Account 19 -3536 -504 -376 2.1 Capital Account 20 -6 -1 -1 Credit 21 2 0 0 Debit 22 -8 -1 -1 2.2 Financial Account 23 -3530 -503 -375 Assets 24 -2447 -340 -255 Liabilities 25 -1083 -164 -120 2.2.1 Financial Account Excluding Reserve Assets 26 -2390 -341 -254 2.2.1.1 Direct Investment 27 -2275 -322 -241 Assets 28 -2736 -389 -291 Liabilities 29 461 67 50 2.2.1.2 Portfolio Investment 30 -363 -59 -43 Assets 31 -983 -143 -106 Liabilities 32 620 84 63 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 -310 -44 -33 Assets 34 -230 -32 -24 Liabilities 35 -80 -11 -8 2.2.1.4 Other Investment 36 557 84 62 Assets 37 2642 387 287 Liabilities 38 -2085 -303 -225 2.2.2 Reserve Assets 39 -1139 -163 -121 3. Net Errors and Omissions 40 -974 -143 -106 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 period 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 BOPdata, using period 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. 7.The BOP data is revised regularly; please find the latest data in "Data and Statistics". Abridged China’s Balance of Payments, First Half of 2023 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 10085 1463 1090 Credit 2 126925 18310 13660 Debit 3 -116840 -16847 -12570 1. A Goods and Services 4 13265 1910 1425 Credit 5 117054 16888 12599 Debit 6 -103789 -14977 -11173 1.A.a Goods 7 20354 2932 2188 Credit 8 105810 15264 11387 Debit 9 -85456 -12332 -9200 1.A.b Services 10 -7090 -1022 -762 Credit 11 11244 1623 1211 Debit 12 -18334 -2645 -1974 1.B Primary Income 13 -3768 -533 -399 Credit 14 8454 1218 909 Debit 15 -12222 -1751 -1307 1.C Secondary Income 16 589 85 63 Credit 17 1417 204 153 Debit 18 -828 -119 -89 2. Capital and Financial Account 19 -8757 -1267 -945 2.1 Capital Account 20 -5 -1 -1 Credit 21 8 1 1 Debit 22 -14 -2 -1 2.2 Financial Account 23 -8752 -1266 -945 Assets 24 -9275 -1338 -1000 Liabilities 25 523 72 55 2.2.1 Financial Account Excluding Reserve Assets 26 -5872 -849 -634 2.2.1.1 Direct Investment 27 -4282 -616 -460 Assets 28 -6151 -888 -663 Liabilities 29 1870 273 203 2.2.1.2 Portfolio Investment 30 -4220 -623 -464 Assets 31 -3588 -524 -391 Liabilities 32 -632 -99 -73 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 -187 -26 -19 Assets 34 -175 -24 -18 Liabilities 35 -12 -1 -1 2.2.1.4 Other Investment 36 2817 415 309 Assets 37 3520 516 383 Liabilities 38 -703 -101 -74 2.2.2 Reserve Assets 39 -2880 -417 -311 3. Net Errors and Omissions 40 -1328 -195 -145 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 period 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 period 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. 7.The BOP data is revised regularly; please find the latest data in "Data and Statistics". 2023-09-28/en/2023/0928/2125.html
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According to the statistics of the State Administration of Foreign Exchange (SAFE), by the end of August 2023, China’s foreign exchange reserves registered USD 3160.1 billion, down by USD 44.2 billion, or 1.38%, from the end of July. In August 2023, driven by factors such as global macroeconomic data and monetary policy expectations of major economies, the US dollar index surged, leading to a general decline in global financial asset prices. China’s foreign exchange reserves declined this month due to the combined effects of currency translation and asset price changes. Despite that, China continues to maintain a positive trend of recovery, characterized by strong resilience, great potential, and vitality in its economy. Its sound long-term economic fundamentals remain unchanged, which will support the overall stability of foreign exchange reserves. 2023-09-07/en/2023/0907/2130.html
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The Bank for International Settlements (BIS) held its bimonthly meetings of Governors in Basel, Switzerland on September 9-11. Pan Gongsheng, the PBOC Governor and SAFE Administrator, attended the meetings and was elected as a member of BIS Board of Directors. He exchanged views with other participating central bank governors on recent international economic and financial development, and issues concerning global financial stability. Deputy Governor Xuan Changneng also attended the meetings. 2023-09-12/en/2023/0912/2126.html