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As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in August 2020, the amount of foreign exchange settlement and sales by banks was RMB 1106.2 billion and RMB 1132.8 billion, respectively, with a deficit of RMB 26.5 billion. In the US dollar terms, the amount of foreign exchange settlement and sales by banks was USD 159.6 billion and USD 163.4 billion, respectively, with a deficit of USD 3.8 billion. During January to August 2020, the accumulative amount of foreign exchange settlement and sales by banks was RMB 9015.5 billion and RMB 8506.7 billion, with an accumulative surplus of RMB 508.8 billion. In the US dollar terms, the accumulative amount of foreign exchange settlement and sales by banks was USD 1285.2 billion and USD 1213.0 billion, with an accumulative surplus of USD 72.2 billion. In August 2020, the amount of cross-border receipts and payments by non-banking sectors was RMB 2473.9 billion and RMB 2385.5 billion, respectively, with a surplus of RMB 88.4 billion. During January to August 2020, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 18799.7 billion and RMB 18629.6 billion, respectively, with an accumulative surplus of RMB 170.1 billion. In the US dollar terms, in August 2020, the amount of cross-border receipts and payments by non-banking sectors was USD 356.8 billion and USD 344.1 billion, respectively, with a surplus of USD 12.7 billion. During January to August 2020, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 2679.7 billion and USD 2655.5 billion, respectively, with an accumulative surplus of USD 24.2 billion. In addition, the State Administration of Foreign Exchange revised the data on cross-border receipts and payments by non-banking sectors from January to July 2020 based on the latest data, and released it through the “Data and Statistics” section of the official website of the State Administration of Foreign Exchange. Addendum: Glossary and relevant definitions Balance of payments (BOP) refers to all economic transactions between residents and non-residents. Foreign exchange settlement and sales by banks refers to settlement and sale transaction that bank executes for customers and for the banks themselves, including statistic data on settlements of forward contracts for foreign exchange settlement and sales and the exercises of option, and excluding the transactions in the interbank foreign exchange market. The statistic reporting date of Foreign exchange settlement and sales by banks should be the trade day of the Foreign exchange settlement and sales transaction. By definition, foreign exchange settlement means foreign exchange holders sell foreign exchange to designated foreign exchange bank, and foreign exchange sales means designated bank sells foreign exchange to foreign exchange buyers. The net position of foreign exchange settlement and foreign exchange sales could be position squared through transactions on the inter-bank foreign exchange market, and it is one of the major contributors to the country’s foreign exchange reserve fluctuation, though it is not equal to net change in foreign exchange reserves during the same period Unlike the principle of balance-of-payments statistics, which cover the transactions between residents and non-residents, foreign exchange settlement and sales by banks only cover transactions of RMB and foreign currencies between banks and customers or on banks for themselves. The newly signed contract amount of forward foreign exchange settlement and sales refers to the binding forward contract between designated foreign exchange bank and client that predetermines foreign exchange currency, amount, exchange rate and tenor which to be executed upon maturity. The newly signed forward contract enables corporate to lock in advance the exchange rate for the purchase or sale of a currency on a future date to manage relevant foreign exchange risk arising from RMB 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, bank will short the equivalent amount of foreign exchange in the Interbank foreign exchange market in advance, or vice versa. Therefore, the newly signed contract amount of forward foreign exchange settlement and sales is also one of contributors to China’s foreign exchange reserve fluctuation. The unwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forward contract due to change in its real demand, client to fully or partially close its forward position by executing another deal with opposite direction to the original contract. The rolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract due to change in its real demand. The outstanding amount of forward foreign exchange settlement and sales by the end of the current period refers to the total amount of forward contracts accumulated from all non-matured forward contracts with client. The newly signed contract amount and the outstanding amount should satisfy the equation that: the outstanding amount of forward foreign exchange settlement and sales by the end of the current period = the outstanding amount of forward foreign exchange settlement and sales at the end of the previous period + the newly signed contract amount of forward foreign exchange settlement and sales for the period - settlements of forward contracts for foreign exchange settlement and sales for the period - the unwind amount of forward foreign exchange settlement and sales for the period. The net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client. Bank shall hedge such risk in the foreign exchange market for risk management during deal life cycle. The cross-border receipts and payments by non-banking sectors refers to the receipts and payments between domestic non-banking sectors (including institutional and individual residents) and non-residents through domestic banks, excluding receipts and payments in cash. In particular, the statistics includes cross-border receipts and payments between non-banking sectors and non-residents through domestic banks (including RMB and foreign currency), and domestic receipts and payments between non-banking sectors and non-residents through domestic banks (temporarily excluding domestic receipts and payments in RMB between individual residents and non-resident individuals). Data are collected when customers conduct receipts and payments with non-resident counterparties at domestic banks. Specifically, the receipts refer to the capital of non-banking sectors received from non-residents via domestic banks; the payments refer to the capital of non-banking sectors paid to non-residents via domestic banks. The cross-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 statistics merely reflects the cash flows between non-banking sectors and non-residents and does not include barter transactions or transactions with non-residents conducted by the banks themselves. Therefore, the scope of the statistics is narrower than that of the Balance of Payments Statistics. 2020-09-18/en/2020/0918/1750.html
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国际储备与外币流动性数据模板 Template on International Reserves and Foreign Currency Liquidity 01 02 03 04 05 06 07 08 09 10 11 12 2021-01-29/en/2020/0228/1743.html
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The State Administration of Foreign Exchange (SAFE) has recently disseminated the data on foreign exchange settlement and sales by banks and foreign-related receipts and payments by banks for customers for July 2020. The SAFE deputy administrator and press spokesperson Wang Chunying answered media questions on foreign exchange receipts and payments for July 2020. Q: Could you brief us on the changes in China's foreign exchange receipts and payments for July 2020? A: China’s foreign exchange market remained generally stable in July, with basically balanced supply and demand. First, banks posted a deficit of US$ 2.5 billion in foreign exchange settlement and sales, mainly attributed to the climax of seasonal dividend payouts. But the size of the deficit narrowed by 59% 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. Second, non-banking sectors posted a basical balance in foreign-related receipts and payments. Non-banking sectors like enterprises and individuals recorded a deficit of US$ 2 billion in foreign-related receipts and payments in July. Third, the foreign exchange reserves rose steadily. At the end of July, China's foreign exchange reserves amounted to US$ 3.1544 trillion, up by US$ 42.1 billion month on month, experiencing positive growth for four consecutive months. The transactions of market players were rational and orderly, and capital flows through major channels remained generally stable. First, market players were active to settle foreign exchange while their desire to purchase foreign exchange remained stable. In July, the settlement rate that measures customers' desire to settle their foreign exchange, or the ratio of foreign exchange customers sold to banks to their receipts of foreign exchange from foreign-related transactions, was 64%, up by 7 percentage points month on month; the foreign exchange sales rate that measures customers' desire to buy foreign exchange, or the ratio of foreign exchange bought by customers from banks to their foreign-related foreign exchange payments, stood at 66%, consistent with a month earlier. Second, cross-border capital inflows through major channels grew steadily. In July, the surplus in cross-border receipts and payments under trade in goods registered a year-on-year increase of 12%, foreign holdings of domestic listed shares and bonds grew 1.4 times net year on year, and the capital flows related to FDI and ODI remained generally stable. For now, China has basically contained the epidemic, and its economy has been recovering steadily, laying a solid foundation for the stability of foreign exchange market. Going forward, despite the complex and challenging external environment and considerable destabilizing factors and uncertainties, China’s economy will remain resilient and highly potential. The new development pattern, featured as domination by domestic cycle and mutual promotion between domestic and international cycle, is expected to take shape with a faster pace, which is conducive to providing further support for the sound and steady performance of China’s foreign exchange market. 2020-08-21/en/2020/0821/1745.html
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The State Administration of Foreign Exchange (SAFE) has recently released the preliminary data on the balance of payments for the second quarter and the first half of 2020. The SAFE deputy administrator and press spokesperson Wang Chunying answered media questions on relevant issues. Q: Could you brief us on the characteristics of the balance of payments for the first half of 2020? A: According to the preliminary data on the balance of payments, China registered a surplus of US$ 85.9 billion under the current account in the first half of 2020, which accounted for 1.3% of the GDP and continued to operate within the reasonable range. The direct investment recorded a net inflow, while the two-way capital flows remained active on the securities market. Firstly, the surplus in trade in goods increased year on year. In the first half of 2020, the surplus of trade in goods under balance of payments stood at US$ 184.4 billion, up by 2% year on year. Specifically, the surplus in trade in goods was US$ 23.1 billion in the first quarter, and US$ 161.3 billion in the second quarter, indicating that China’s economy has been steadily recovering, and the resumption of work and production has improved month on month. Secondly, the deficit in trade in services narrowed year on year. China registered a deficit in trade in services of US$ 76.5 billion in the first half of 2020, down by 41% year on year. Specifically, the deficit in travel was US$ 61.7 billion, down by 44% year on year, which was mainly attributed to sharp decline in outbound travel due to the pandemic. The deficit in transport was US$ 19.1 billion, down by 31% year on year, mainly due to a drop in the imports under trade in goods. Thirdly, direct investment continued to register a surplus, and the two-way capital flows on the securities market remained active. In the first half of 2020, China posted a surplus of US$ 18.7 billion under direct investment, of which, outbound direct investment (ODI) stood at US$ 47.2 billion, and foreign direct investment (FDI) was US$ 65.9 billion, both remaining basically stable. In the securities market, the net inflow of overseas investment in domestic securities exceeded US$ 60 billion in the second quarter, representing a historically high level and demonstrating strong attractiveness of renminbi-denominated assets. China’s investment in foreign securities also maintained a certain scale. Overall, China’s balance of payments remained in the balanced range in the first half of this year. At present, China has made great achievements in terms of both epidemic prevention and control and economic and social development. China has continued its efforts in optimizing economic structure and deepening its reform and opening-up, and such advantages in fundamentals provide favorable conditions for China to maintain equilibrium in balance of payments in the second half of the year. 2020-08-07/en/2020/0807/1738.html
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Q: The State Administration of Foreign Exchange (SAFE) has just released the latest data on China's foreign exchange reserves. Could you explain why China's foreign exchange reserves changed in August 2020? What will be the future trends? A: By the end of August 2020, China's foreign exchange reserves had amounted to US$ 3.1646 trillion, up by US$ 10.2 billion or 0.3% month on month. China's foreign exchange market remained stable in August, with supply and demand being in balance. In global financial markets, due to monetary policy expectations and macroeconomic data in major economies, non-US dollar currencies picked up against the US dollar, and asset prices diverged. Under the combined impacts of exchange rate conversion and asset price changes, China's foreign exchange reserves increased in August. Currently, the COVID-19 pandemic has not yet been fully under control, and there are still many destabilizing factors and uncertainties in the global economic and financial sectors. However, China's economy is recovering steadily and continuously developing towards the brighter side, and it stays committed to deepening reforms and expanding opening-up. The new development pattern, featured as domination by domestic cycle and mutual promotion between domestic and international cycle, is expected to take shape with a faster pace. Those factors above will provide continued support for the general stability of foreign exchange reserves. 2020-09-07/en/2020/0907/1749.html
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The State Administration of Foreign Exchange is a deputy-ministerial-level state administration. The SAFE Head Office consists of eight functional departments (offices) including the General Affairs Department (Policies and Regulations Department), Balance of Payments Department, Current Account Management Department, Capital Account Management Department, Supervision and Inspection Department, Reserve Management Department, Human Resources Department (Internal Auditing Department), Science and Technology Department, and the SAFE CPC Committee. There are also four institutions affiliated with the SAFE, including the SAFE Investment Center, Data Monitoring Center for Foreign Exchange Transactions, General Service Center and SAFE Research Center. 2021-10-12/en/2017/1026/1751.html
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In the third quarter of 2020, China's current account registered a surplus of RMB 638.3 billion, and the capital and financial accounts recorded a deficit of RMB 349.2 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 284.9 billion, and reserve assets rose by RMB 64.2 billion. In the first three quarters of 2020, China's current account registered a surplus of RMB 1183.6 billion, and the capital and financial accounts recorded a deficit of RMB 516 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 490.3 billion, and reserve assets increased by RMB 24.9 billion. In SDR terms, in the third quarter of 2020, China posted a surplus of SDR 65.6 billion under the current account, and a deficit of SDR 35.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 29.3 billion, and reserve assets rose by SDR 6.6 billion. In SDR terms, in the first three quarters of 2020, China posted a surplus of SDR 121.1 billion under the current account, and a deficit of SDR 52.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 50.8 billion, and reserve assets rose by SDR 2 billion. In the US dollar terms, in the third quarter of 2020, China's current account recorded a surplus of USD 92.2 billion, including a surplus of USD 155.8 billion under trade in goods, a deficit of USD 40.3 billion under trade in services, a deficit of USD 26.1 billion under primary income, and a surplus of USD 2.8 billion under secondary income. The capital and financial accounts recorded a deficit of USD 50.5 billion, including a deficit of USD 12 million under the capital account, a deficit of USD 41.2 billion under the financial account (excluding reserve assets), and an increase of USD 9.3 billion under reserve assets. In the US dollar terms, in the first three quarters of 2020, China's current account recorded a surplus of USD 168.7 billion, including a surplus of USD 340.2 billion under trade in goods, a deficit of USD 116.8 billion under trade in services, a deficit of USD 60 billion under primary income, and a surplus of USD 5.3 billion under secondary income. The capital and financial accounts recorded a deficit of USD 73.8 billion, including a deficit of USD 119 million under the capital account, a deficit of USD 70.4 billion under the financial account(excluding reserve assets), and an increase of USD 3.4 billion under reserve sassets. (End) Abridged Balance of Payments of China, Third Quarter of 2020 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 6,383 922 656 Credit 2 57,317 8,282 5,893 Debit 3 -50,934 -7,360 -5,237 1. A Goods and Services 4 7,996 1,155 822 Credit 5 51,454 7,435 5,290 Debit 6 -43,459 -6,280 -4,468 1.A.a Goods 7 10,784 1,558 1,109 Credit 8 47,482 6,861 4,882 Debit 9 -36,698 -5,303 -3,773 1.A.b Services 10 -2,788 -403 -287 Credit 11 3,972 574 408 Debit 12 -6,761 -977 -695 1.B Primary Income 13 -1,805 -261 -186 Credit 14 5,197 751 534 Debit 15 -7,002 -1,012 -720 1.C Secondary Income 16 193 28 20 Credit 17 666 96 68 Debit 18 -473 -68 -49 2. Capital and Financial Account 19 -3,492 -505 -359 2.1 Capital Account 20 -1 0 0 Credit 21 3 0 0 Debit 22 -4 -1 0 2.2 Financial Account 23 -3,491 -504 -359 Assets 24 -15,417 -2,228 -1,585 Liabilities 25 11,926 1,723 1,226 2.2.1 Financial Account Excluding Reserve Assets 26 -2,849 -412 -293 2.2.1.1 Direct Investment 27 1,736 251 178 Assets 28 -2,287 -330 -235 Liabilities 29 4,023 581 414 2.2.1.2 Portfolio Investment 30 3,039 439 312 Assets 31 -2,468 -357 -254 Liabilities 32 5,507 796 566 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 -160 -23 -16 Assets 34 -92 -13 -9 Liabilities 35 -67 -10 -7 2.2.1.4 Other Investment 36 -7,464 -1,079 -767 Assets 37 -9,928 -1,435 -1,021 Liabilities 38 2,464 356 253 2.2.2 Reserve Assets 39 -642 -93 -66 3. Net Errors and Omissions 40 -2,891 -418 -297 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. 7. The BOP data is revised regularly; please find the latest data in “Data and Statistics”. Abridged China’s Balance of Payments, First Three Quarters of 2020 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 11,836 1,687 1,211 Credit 2 148,561 21,244 15,429 Debit 3 -136,725 -19,557 -14,219 1. A Goods and Services 4 15,661 2,234 1,607 Credit 5 134,494 19,234 13,973 Debit 6 -118,834 -17,000 -12,366 1.A.a Goods 7 23,823 3,402 2,459 Credit 8 122,772 17,558 12,753 Debit 9 -98,950 -14,156 -10,294 1.A.b Services 10 -8,162 -1,168 -852 Credit 11 11,722 1,676 1,220 Debit 12 -19,884 -2,844 -2,072 1.B Primary Income 13 -4,194 -600 -434 Credit 14 12,182 1,741 1,261 Debit 15 -16,375 -2,340 -1,695 1.C Secondary Income 16 369 53 38 Credit 17 1,885 270 196 Debit 18 -1,516 -217 -158 2. Capital and Financial Account 19 -5,160 -738 -529 2.1 Capital Account 20 -8 -1 -1 Credit 21 7 1 1 Debit 22 -15 -2 -2 2.2 Financial Account 23 -5,152 -737 -528 Assets 24 -28,722 -4,113 -2,969 Liabilities 25 23,570 3,376 2,441 2.2.1 Financial Account Excluding Reserve Assets 26 -4,903 -704 -508 2.2.1.1 Direct Investment 27 3,207 461 334 Assets 28 -5,609 -802 -582 Liabilities 29 8,816 1,263 916 2.2.1.2 Portfolio Investment 30 2,332 331 227 Assets 31 -7,734 -1,108 -809 Liabilities 32 10,066 1,439 1,036 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 -801 -114 -84 Assets 34 -589 -84 -62 Liabilities 35 -212 -30 -22 2.2.1.4 Other Investment 36 -9,641 -1,382 -985 Assets 37 -14,540 -2,086 -1,497 Liabilities 38 4,899 704 512 2.2.2 Reserve Assets 39 -249 -34 -20 3. Net Errors and Omissions 40 -6,676 -949 -682 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. 7. The BOP data is revised regularly; please find the latest data in “Data and Statistics”. 2020-12-25/en/2020/1225/1781.html
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As at the end of September 2020, China recorded RMB 15.6252 trillion in outstanding external debt denominated in both domestic and foreign currencies (equivalent to USD 2.2944 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 6.8019 trillion (USD 998.8 billion), accounting for 44%; while the outstanding short-term external debt was RMB 8.8233 trillion (USD 1.2956 trillion), taking up 56%, including 40% trade-related credit. In terms of institutions and sectors, the outstanding debt of government totaled RMB 2.2293 trillion (USD 327.3 billion), accounting for 14%; the outstanding debt of the central bank totaled RMB 270 billion(USD 39.7 billion), accounting for 2%; the outstanding debt of banks totaled RMB 7.3425 trillion (USD 1078.2 billion), taking up 47%; the outstanding debt of other sectors (including inter-company lending under direct investments) totaled RMB 5.7834 trillion (USD 849.2 billion), taking up 37%; In terms of debt instruments, the outstanding of loans was RMB 3.2183 trillion (USD 472.6 billion), accounting for 21%; the outstanding of trade credit and prepayment was RMB 2.3821 trillion (USD 349.8 billion), accounting for 15%; the outstanding of currency and deposits was RMB 3.4108 trillion (USD 500.9 billion), accounting for 22%; the outstanding of debt securities was RMB 4.4352 trillion (USD 651.3 billion), accounting for 28%; the Special Drawing Rights (SDR) allocation amounted to RMB 67 billion (USD 9.8 billion), accounting for 0.5%. The outstanding debt of inter-company lending under direct investments totaled RMB 1.7422 trillion (USD 255.8 billion), accounting for 11%; and the outstanding of other debt liabilities was RMB 369.6 billion (USD 54.2 billion), accounting for 2.5%. With respect to currency structures, the outstanding external debt in domestic currency totaled RMB 6.1089 trillion (USD 897 billion), accounting for 39%; the outstanding external debt in foreign currencies (including SDR allocation) totaled RMB 9.5163 trillion (USD 1.3974 trillion), accounting for 61%. In the total outstanding registered external debt in foreign currencies, the USD debt accounted for 84%, the Euro debt accounted for 8%, the HKD debt accounted for 4%, the JPY debt accounted for 2%, the SDR and other foreign currency-denominated external debt accounted for 2%. China’s major external debt metrics were all within the internationally recognized thresholds, indicating that the external debt risk is controllable on the whole. Appendix Definition of terms and interpretations External debt classification by term structure. There are two methods to classify the external debt by term 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 September 2020 End of September 2020 End of September 2020 （Unit:100 million RMB） （Unit:100 million US dollars） General Government 22293 3273 Short-term 444 65 Currency and deposits 0 0 Debt securities 444 65 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 0 0 Long-term 21849 3208 Currency and deposits 0 0 Debt securities 0 0 Loans 18820 2763 Trade credit and advances 3029 445 Other debt liabilities 0 0 Currency and deposits 0 0 Central Bank 2700 397 Short-term 1856 273 Currency and deposits 906 133 Debt securities 950 140 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 0 0 Long-term 844 124 Special drawing rights 670 98 Currency and deposits 0 0 Debt securities 0 0 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 174 26 Other Depository Corporations 73425 10782 Short-term 53474 7852 Currency and deposits 33193 4874 Debt securities 4154 610 Loans 15772 2316 Trade credit and advances 0 0 Other debt liabilities 355 52 Long-term 19951 2930 Currency and deposits 0 0 Debt securities 14287 2098 Loans 5593 822 Trade credit and advances 0 0 Other debt liabilities 71 10 Other Sectors 40412 5934 Short-term 28269 4151 Currency and deposits 9 1 Debt securities 123 18 Loans 3219 473 Trade credit and advances 23405 3437 Other debt liabilities 1513 222 Long-term 12143 1783 Currency and deposits 0 0 Debt securities 5575 819 Loans 4570 671 Trade credit and advances 417 61 Other debt liabilities 1581 232 Direct Investment: Intercompany Lending 17422 2558 Debt liabilities of direct investment enterprises to direct investors 10546 1548 Debt liabilities of direct investors to direct investment enterprises 818 120 Debt liabilities to affiliated enterprises 6058 890 Gross External Debt Position 156252 22944 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. 2020-12-25/en/2020/1225/1780.html
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As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in November 2020, the amount of foreign exchange settlement and sales by banks was RMB 1163.6 billion and RMB 1143.9 billion, respectively, with a surplus of RMB 19.7 billion. In the US dollar terms, the amount of foreign exchange settlement and sales by banks was USD 176.1 billion and USD 173.1 billion, respectively, with a surplus of USD 3.0 billion. During January to November 2020, the accumulative amount of foreign exchange settlement and sales by banks was RMB 12441.1 billion and RMB 11798.5 billion, respectively, with an accumulative surplus of RMB 642.5 billion. In the US dollar terms, the accumulative amount of foreign exchange settlement and sales by banks was USD 1795.6 billion and USD 1703.4 billion, respectively, with an accumulative surplus of USD 92.1 billion. In November 2020, the amount of cross-border receipts and payments by non-banking sectors was RMB 2800.9 billion and RMB 2798.6 billion, respectively, with a surplus of RMB 2.3 billion. During January to November 2020, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 26904.3 billion and RMB 26473.2 billion, respectively, with an accumulative surplus of RMB 431.1 billion. In the US dollar terms, in November 2020, the amount of cross-border receipts and payments by non-banking sectors was USD 423.9 billion and USD 423.6 billion, respectively, with a surplus of USD 0.4 billion. During January to November 2020, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 3887.4 billion and USD 3824.5 billion, respectively, with an accumulative surplus of USD 62.9 billion. Addendum: Glossary and relevant definitions Balance of payments (BOP) refers to all economic transactions between residents and non-residents. Foreign exchange settlement and sales by banks refers to settlement and sale transaction that bank executes for customers and for the banks themselves, including statistic data on settlements of forward contracts for foreign exchange settlement and sales and the exercises of option, and excluding the transactions in the interbank foreign exchange market. The statistic reporting date of Foreign exchange settlement and sales by banks should be the trade day of the Foreign exchange settlement and sales transaction. By definition, foreign exchange settlement means foreign exchange holders sell foreign exchange to designated foreign exchange bank, and foreign exchange sales means designated bank sells foreign exchange to foreign exchange buyers. The net position of foreign exchange settlement and foreign exchange sales could be position squared through transactions on the inter-bank foreign exchange market, and it is one of the major contributors to the country’s foreign exchange reserve fluctuation, though it is not equal to net change in foreign exchange reserves during the same period Unlike the principle of balance-of-payments statistics, which cover the transactions between residents and non-residents, foreign exchange settlement and sales by banks only cover transactions of RMB and foreign currencies between banks and customers or on banks for themselves. The newly signed contract amount of forward foreign exchange settlement and sales refers to the binding forward contract between designated foreign exchange bank and client that predetermines foreign exchange currency, amount, exchange rate and tenor which to be executed upon maturity. The newly signed forward contract enables corporate to lock in advance the exchange rate for the purchase or sale of a currency on a future date to manage relevant foreign exchange risk arising from RMB 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, bank will short the equivalent amount of foreign exchange in the Interbank foreign exchange market in advance, or vice versa. Therefore, the newly signed contract amount of forward foreign exchange settlement and sales is also one of contributors to China’s foreign exchange reserve fluctuation. The unwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forward contract due to change in its real demand, client to fully or partially close its forward position by executing another deal with opposite direction to the original contract. The rolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract due to change in its real demand. The outstanding amount of forward foreign exchange settlement and sales by the end of the current period refers to the total amount of forward contracts accumulated from all non-matured forward contracts with client. The newly signed contract amount and the outstanding amount should satisfy the equation that: the outstanding amount of forward foreign exchange settlement and sales by the end of the current period = the outstanding amount of forward foreign exchange settlement and sales at the end of the previous period + the newly signed contract amount of forward foreign exchange settlement and sales for the period - settlements of forward contracts for foreign exchange settlement and sales for the period - the unwind amount of forward foreign exchange settlement and sales for the period. The net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client. Bank shall hedge such risk in the foreign exchange market for risk management during deal life cycle. The cross-border receipts and payments by non-banking sectors refers to the receipts and payments between domestic non-banking sectors (including institutional and individual residents) and non-residents through domestic banks, excluding receipts and payments in cash. In particular, the statistics includes cross-border receipts and payments between non-banking sectors and non-residents through domestic banks (including RMB and foreign currency), and domestic receipts and payments between non-banking sectors and non-residents through domestic banks (temporarily excluding domestic receipts and payments in RMB between individual residents and non-resident individuals). Data are collected when customers conduct receipts and payments with non-resident counterparties at domestic banks. Specifically, the receipts refer to the capital of non-banking sectors received from non-residents via domestic banks; the payments refer to the capital of non-banking sectors paid to non-residents via domestic banks. The cross-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 statistics merely reflects the cash flows between non-banking sectors and non-residents and does not include barter transactions or transactions with non-residents conducted by the banks themselves. Therefore, the scope of the statistics is narrower than that of the Balance of Payments Statistics. 2020-12-18/en/2020/1218/1778.html
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As at the end of September 2020, China’s external financial assets reached USD 8166.6 billion, external financial liabilities reached USD 6012.8 billion, and net external assets totaled USD 2153.8 billion. In the external financial assets, direct investment assets amounted to USD 2164.3 billion, portfolio investment assets, USD 772.8 billion, financial derivative assets, USD 14.4 billion, other investment assets, USD 1934 billion, and reserve assets, USD 3281.2 billion, accounting for 27 percent, 9 percent, 0.2 percent, 24 percent and 40 percent of external financial assets respectively. In external liabilities, direct investment liabilities were USD 3106.8 billion, portfolio investment liabilities, USD 1506.9 billion, financial derivative liabilities, USD 11.3 billion and other investment liabilities, USD 1387.8 billion, accounting for 52 percent, 25 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 5801.9 billion and SDR 4271.8 billion respectively, and external net assets totaled SDR 1530.2 billion at the end of September 2020. (End) China's International Investment Position, End of September 2020 Item Line No. Position in 100 million USD Position in 100 million SDR Net Position 1 21,538 15,302 Assets 2 81,666 58,019 1 Direct Investment 3 21,643 15,376 1.1 Equity and Investment Fund Shares 4 18,337 13,028 1.2 Debt Instruments 5 3,306 2,348 1.a Financial Sectors 6 2,901 2,061 1.1.a Equity and Investment Fund Shares 7 2,809 1,996 1.2.a Debt Instruments 8 92 65 1.b Non-financial Sectors 9 18,742 13,315 1.1.b Equity and Investment Fund Shares 10 15,528 11,032 1.2.b Debt Instruments 11 3,214 2,283 2 Portfolio Investment 12 7,728 5,490 2.1 Equity and Investment Fund Shares 13 4,814 3,420 2.2 Debt Securities 14 2,913 2,070 3 Financial Derivatives (other than reserves) and Employee Stock Options 15 144 102 4 Other Investment 16 19,340 13,740 4.1 Other Equity 17 88 63 4.2 Currency and Deposits 18 4,818 3,423 4.3 Loans 19 8,033 5,707 4.4 Insurance, Pension, and Standardized Guarantee Schemes 20 177 126 4.5 Trade Credit and Advances 21 5,602 3,980 4.6 Others 22 621 441 5 Reserve Assets 23 32,812 23,311 5.1 Monetary Gold 24 1,182 840 5.2 Special Drawing Rights 25 112 79 5.3 Reserve Position in the IMF 26 97 69 5.4 Foreign Exchange Reserves 27 31,426 22,326 5.5 Other Reserve Assets 28 -4 -3 Liabilities 29 60,128 42,718 1 Direct Investment 30 31,068 22,072 1.1 Equity and Investment Fund Shares 31 28,369 20,154 1.2 Debt Instruments 32 2,699 1,918 1.a Financial Sectors 33 1,667 1,184 1.1.a Equity and Investment Fund Shares 34 1,492 1,060 1.2.a Debt Instruments 35 175 124 1.b Non-financial Sectors 36 29,401 20,888 1.1.b Equity and Investment Fund Shares 37 26,877 19,094 1.2.b Debt Instruments 38 2,524 1,793 2 Portfolio Investment 39 15,069 10,706 2.1 Equity and Investment Fund Shares 40 8,924 6,340 2.2 Debt Securities 41 6,146 4,366 3 Financial Derivatives (other than reserves) and Employee Stock Options 42 113 80 4 Other Investment 43 13,878 9,859 4.1 Other Equity 44 0 0 4.2 Currency and Deposits 45 5,021 3,567 4.3 Loans 46 4,787 3,401 4.4 Insurance, Pension, and Standardized Guarantee Schemes 47 154 110 4.5 Trade Credit and Advances 48 3,498 2,485 4.6 Others 49 318 226 4.7 Special Drawing Rights 50 98 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. 4. The IIP data is revised regularly; please find the latest data in “Data and Statistics”. 2020-12-25/en/2020/1225/1782.html