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The SAFE issued recently the Circular on Relevant Issues Regarding Foreign Exchange Administration of Overseas Lending Granted by Domestic Enterprises (hereinafter referred to as the Circular). The person-in-charge of the SAFE was interviewed on the relevant issues. Q: What is the main purpose of promulgation of the Circular? A: Chinese overseas investment has seen steady development with positive results. Meanwhile, Chinese-funded enterprises in overseas countries are baffled and impeded from further development and expansion due to difficulties in overseas financing and to insufficient liquid funds. The ongoing international financial crisis has added to the liquidity pressures of overseas financial institutions and the deterioration in the financing environment for Chinese-funded enterprises. Current cross-border financial services provided by domestic financial institutions have proven to be inadequate to meet the needs of overseas Chinese-funded enterprises for further development, which still require improvement. The measures recently issued by the State Council, which aim to further stabilize external demand, call for considerable efforts to be made to address the financing difficulties of foreign trade enterprises, as well as to support the go-global move of Chinese enterprises of diverse ownerships to stimulate exports. In such a context, for the purpose of bolstering the go-global efforts of financially strong enterprises, further promoting the facilitation of investment and trade as a way to stabilize external demand and for better coping with the global financial crisis, the SAFE issued the Circular in a timely manner and with earnest efforts of drawing on the experiences from the pilot reform of lending overseas. Q: What is the main content of the Circular? A: The Circular mainly includes the following content: First, the scope of lenders for overseas lending is expanded from the qualified Chinese and foreign-funded transnational companies currently in force to qualified enterprises of diverse ownerships. Second, the sources of funds for overseas lending have been expanded. Domestic enterprises are allowed to provide overseas lending through the use of diverse forms of sources of fund within certain limitations, such as self-owned foreign exchange and foreign exchange purchased with the home currency. Third, the ratification and exchange procedures for overseas lending have been streamlined. Matters concerning the opening of special foreign exchange accounts for overseas lending, fund transfers within China, and the purchase of foreign exchange etc. will all be handled directly by designated foreign exchange banks. Fourth, the statistical monitoring and risk prevention mechanism for overseas lending has been improved. Q: How does the SAFE guard against possible risks to the equilibrium in the balance of payments brought about by overseas loans? A: The economic stimulus package which aims to expand domestic demand and foster the stable and rapid development of the national economy has yielded initial positive results. The operation of the economy has witnessed positive changes and the general position of the balance of payments remains stable and free from major fluctuations. These have laid a solid foundation for overseas lending. Meanwhile, the relatively limited amount of overseas lending, as compared to the total scale of the balance of payments and the foreign exchange reserves, will not have a major impact on the national equilibrium of the balance of payments, and consequently the overall risks will be controllable. In terms of the design of the detailed policy plans for overseas lending, we have perfected the statistical monitoring and risk prevention mechanism for overseas lending, which are mainly embodied in the following aspects: management of the qualifications of the lenders and borrowers for overseas lending has been perfected, and two quantitative thresholds have been installed for an overseas lending quota: the quota for overseas lending shall not exceed 30 percent of the owners equity of the lender and shall not exceed the total agreed investment amount that has been concluded through the registration procedures by the borrower, and the lower of the two figures shall be adopted; the term of validity for overseas lending is clarified; the quota ratification, special foreign exchange account, foreign exchange fund transfers within China as well as the outward and inward remittances of overseas lending will be integrated into the foreign exchange management information system under direct investment, and a sound statistical monitoring mechanism is established for the inflow and outflow of foreign exchange funds for overseas lending; in the Circular, safeguard provisions are established stipulating that the SAFE can make timely adjustments to the qualifications, fund sources, amounts, terms, etc. of domestic enterprises for overseas lending. Q: What new measures are incorporated in the Circular to streamline administration, decentralize power, and to provide facilitation for the enterprises? A: On the premise of effectively preventing risks, the Circular has further streamlined administration, decentralized power, and provided facilitation for the enterprises, which are mainly embodied in the following aspects: the ratification, registration, and other procedures related to overseas lending will be handled by the branches of the SAFE and the SAFE will be responsible for instructing and organizing implementation of the relevant policies; in terms of administration of the exchange, the ratification procedures for domestic transfers involved in overseas lending are streamlined, except that outward remittances of loans through the special account for overseas lending as well as inward remittances of funds for repayment of the principal and interest or the performance of a guarantee for the special account for overseas lending are subject to ratification by the foreign exchange administrations, the transfer between related domestic foreign exchange accounts and special foreign exchange accounts for overseas lending and settlement of foreign exchange can be completed at banks by domestic lenders by presenting the ratification documents for overseas lending, without having to obtain ratification by the foreign exchange administrations. As for the administration of overseas lending quotas, balanced management shall apply, i.e., domestic enterprises engaged in overseas lending can repeatedly use the recovered quota for overseas lending within the ratified quota and term, thus changing the previous principle based on the amount incurred. This will be conducive for domestic enterprises to determine independently the frequency and amount of overseas lending so as to satisfy the financing needs of their overseas invested enterprises as well as to increase the efficiency of fund use. Q: What are the qualifications of the lenders? A: The Circular has reduced the restrictions on the qualifications for overseas lending to a large extent. In the case that both the lenders and the borrowers are registered and established in accordance with the law and their registered capital has been fully paid, and the lenders and borrowers have sound track records and are free from violations of foreign exchange administration regulations within the recent three years after ratification by the foreign exchange administrations, the borrowers and lenders can apply to the said Administration for granting loans to their overseas directly-invested enterprises. Q: What are the sources of the funds for overseas lending? A: The Circular allows domestic enterprises to offer lending to their overseas directly-invested enterprises by using self-owned foreign exchange funds in the foreign exchange capital account and foreign exchange account under the current account, foreign exchange funds purchased with RMB, and funds participating in the foreign currency pool. Q: What is the relationship between overseas lending and overseas direct investment? A: In a broad sense, overseas investment can be classified as overseas claim investment and overseas equity investment. Overseas lending granted by domestic enterprises can be considered a part of overseas claims and jointly constitutes the overseas investment. According to the prevailing overseas direct investment administration framework, overseas direct investment shall be ratified or put on the record by Chinas relevant departments for overseas investment. Therefore, the Circular stipulates that the prerequisite condition for overseas lenders are: all overseas direct investment projects by the lender during the past years have been ratified by the relevant domestic departments for direct overseas investment and the foreign exchange registration procedures have been fulfilled at the foreign exchange administrations, and the lender was graded at or above Grade Two in the last joint annual inspection of overseas investment. Q: What approaches are applicable in the Circular for providing overseas loans? Q: Overseas lending can be provided in the forms of: (p) direct lending, i.e., the lending is granted directly by domestic enterprises to their wholly-owned subsidiaries or share-holding enterprises legally established abroad; (q) granting lending by entrusting designated foreign exchange banks. In addition, if the group company that the domestic enterprise is affiliated with has a financing company with qualifications to conduct foreign exchange business, the enterprise can provide lending by means of entrusted lending through the financing company. Q: What is the relationship between the Circular and the Circular of the SAFE on Issues Regarding the Management of Internal Operations of Foreign Exchange Funds of Transnational Companies (Huifa No. 104 [2004])? A: The lending granted by domestic enterprises (including foreign-invested enterprises) to their wholly-owned subsidiaries and share-holding enterprises legally established abroad is subject to the provisions of this Circular. The lending granted by foreign-invested enterprises to other overseas related-party companies shall be subject to the relevant provisions in the Huifa No. 104 [2004] document. 2009-06-09/en/2009/0609/892.html
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For the purpose of further promoting the healthy development of trade financing, the State Administration of Foreign Exchange (SAFE) issued the Notice on the Examination and Ratification of Short-term External Debt Quotas of Financial Institutions in 2009 (hereinafter referred to as the "Notice"). The following is a transcript of an interview with SAFE officials on the management of the short-term external debt and the relevant contents of the Notice. Question: What is the division of responsibilities for the management of the external debt in China? Answer: According to the division of responsibilities to manage the external debt in China, the National Development and Reform Commission (NDRC) is responsible for management of medium- and long-term external debts (over one year). The SAFE is responsible for management of short-term external debts (one year or less). The SAFE is in charge of examination and ratification of short-term external debt quotas of financial institutions and of approval to sign contracts, withdraw registrations, open accounts, repay principal and interest, and settle relevant foreign exchange as well as approval of sales of all external debts (including medium- and long-term external debts). Question: What are the major changes in the short-term external debt management policies over the past two years? Answer: In order to achieve a general equilibrium in the balance of payments, restrict the scale of the short-term external debt, ensure the security of the national economy and finance, in March 2008 the SAFE made adjustments to the short-term external debt quotas of financial institutions. According to the adjustments, before March 31, 2008 Chinese-funded banks would reduce the short-term external debt quotas to 30 percent of the quotas ratified in 2006. Foreign-funded banks and non-bank financial institutions would adjust the short-term external debt quotas to 60 percent of the quotas ratified in 2006. Foreign-funded banks were encouraged to raise funds by purchasing foreign exchange in Renminbi and borrowing foreign exchange in China. The tightening up policy was continued in 2008. Once again, the SAFE reduced the short-term external debt quotas of Chinese and foreign-funded financial institutions by some 10 percent, based on the quota reductions in 2007. As far as policy implementation is concerned, based on the reduction scheme the financial institutions have achieved the aim of restraining the scale of short-term external debts. With regard to the results of the policy implementation, the excessive growth of the short-term external debt has been basically restrained; the irrational expansion of the foreign exchange credit scale of domestic financial institutions has been checked; the imbalance between supply and demand of domestic foreign exchange has been reduced; and the pressures due to the appreciation of the Renminbi have been diminished. While tightening the short-term external debt quotas, the SAFE is closely monitoring possible increased foreign exchange pressures on financial institutions due to implementation of the policy. Taking into account the support of the financial industry for the growth of the entire economy, the SAFE has excluded the accepted but unpaid letters of credit with a maturity of under 90 days and overseas agency payments with a maturity of under 90 days involved in trading activities so as to ensure sufficient financing support for trading activities. Question: What are the distinct aspects of this year's examination and ratification scheme as compared to the previous scheme? Answer: The 2009 examination and ratification scheme is formulated under the guidance of "maintaining growth, guarding against possible risks, and promoting a balance." When examining and ratifying short-term external debt quotas of national-level Chinese and foreign-funded banks with legal person status and quotas of various regions, we have adopted a methodology of "ensuring the controllability of the increase in the overall scale and taking into account the efficiency and fairness of individual institutions." In 2009, we examined and ratified short-term external debt quotas of financial institutions totaling US$32.9 billion, representing a 12 percent increase over that in 2008. In the 2009 examination and ratification scheme, special importance is attached to financing for trading activities. According to the scheme, Chinese and foreign-funded financial institutions entitled to the incremental quotas should make use of the total quota increment to support financing of imports and exports of domestic enterprises. The quota increment of various regions should be used preferentially to support financial institutions with a larger volume of trade settlement. In order to achieve maximum benefits to promote the development of the regional economy by using foreign exchange, the scheme transfers authority from the SAFE headquarters to its branches to examine and ratify quotas that have a close relation to the development of the local economy and quotas in need of timely adjustment. Question: We note that in the 2009 short-term external debt examination and ratification scheme special importance is attached to trade financing. How is the scheme being mapped out? Answer: In 2009 there will be even greater uncertainty in China's balance of payments. The economic downturn continues to spread in the developed countries, resulting in more uncertainty in future economic conditions. A huge number of multinationals are sliding into financial difficulties as demand on the world market is dropping rapidly. As a result, China will be facing greater challenges in its imports and exports. Cross-border fund flows will be more unpredictable. Taking this into account, we should attach greater importance to the prevention of possible risks based on a complete understanding of China's balance of payments. In response to the rising corporate operational risks and the lowered security of financial credit, we will adhere to the principle of "properly restraining the inflow of funds and prudently handling the prevention of risks," and when examining and ratifying the short-term external debt quotas we will adopt the methodology of "ensuring the controllability of an increase in the overall scale and taking into account the efficiency and fairness of individual institutions". We will impose tight restrictions on the inflow of external debts with high risk uses, a low threshold of outflow channels, and obvious short-term intentions. In 2009 the SAFE will respond actively to the central government's macroeconomic policy of "maintaining economic growth, expanding domestic demand, and adjusting the industrial structure." We will keep a close eye on the changes in the scale of the external debt and the internal structure, with top priority given to risk prevention. We will make adjustments to the short-term external debt quotas of banks to highlight the intermediary functions of banks by encouraging banks to carry out financing business to facilitate trading activities and capital turnover of enterprises. These measures are expected to promote the healthy development of imports and exports and the entire economy. Questions: What policies has the SAFE promulgated with respect to trade financing? Answer: From the perspective of external debt management, the following policies aimed at facilitating financing of trading activities have been put into place: 1.) The incremental short-term external debt quotas shall be used entirely for trade financing. Chinese and foreign-funded financial institutions entitled to the incremental quotas in the 2009 scheme shall use the quotas entirely for import and export financing of domestic enterprises. The SAFE branches shall preferentially use the regional quota increment to serve banks with a larger volume of trading settlement, with the aim of ensuring that all incremental quotas are used for import and export financing of domestic enterprises. 2.) Trade financing with a maturity of under 90 days shall be excluded from the short-term external debt quotas of the banks. The SAFE shall continue to implement the 2008 policy whereby accepted but unpaid letters of credit with a maturity of under 90 days and overseas agency payments with a maturity of under 90 days are excluded from the quota management. This will allow banks to carry out trade financing with a maturity of under 90 days without using the short-term external debt quotas. 3.) The policy whereby a certain proportion of corporate trade financing may employ foreign exchange settlement will continue to be implemented. In parallel with the regulation in which the foreign exchange settlement of domestic foreign exchange loans is strictly prohibited, the SAFE will give a green light to foreign exchange settlement of trade financing that includes export bill purchases and forfeiting without recourse and factoring to facilitate the trade and relevant procedures will be simplified. In 2008 the SAFE increased the benchmark proportion of advances on sales and deferred payments from 10 percent to 25 percent. According to the new regulation, a registered amount of under US$30,000 for single advances on sales and deferred payments shall be excluded from the quota management. For advances on sales or deferred payments with an insufficient proportion or beyond the quotas, the financial institution shall apply for a manual confirmation from the SAFE. 2009-04-17/en/2009/0417/885.html
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The SAFE recently released China's International Investment Position for year-end 2008. The statistics reveal that at the end of 2008, China's external financial assets hit USD 2920.3 billion, up 23 percent over that at the end of 2007; external financial liabilities reached USD 1401.3 billion, a rise of 17 percent year on year; external net financial assets totaled USD 1519 billion, an increase of 31 percent year on year.. Among the external financial assets, direct investments abroad amounted to USD 169.4 billion, portfolio investments were USD 251.9 billion, other investments were USD 532.8 billion, and reserves assets were USD 1966.2 billion, accounting for 6 percent, 9 percent, 18 percent, and 67 percent respectively. In terms of external financial liabilities, foreign direct investments totaled USD 876.3 billion, portfolio investments USD 161.2 billion, and other investments USD 363.7 billion, accounting for 63 percent, 11 percent, and 26 percent respectively. The International Investment Position (hereinafter referred to as the IIP) is a statistical statement which reflects at a specific point the stocks of financial assets and liabilities of one country or region to other countries or regions in the world, and together with the balance of payments statements (BOP statements) it constitutes the complete international accounts system of the country or region to show the trade flows. The SAFE has adjusted its IIP for year-end 2006 and year-end 2007 according to the latest data. China's International Investment Position Unit: USD 100m Items End of 2006 End of 2007 End of 2008 Net Position 6534 11619 15190 A. Assets 16881 23744 29203 1. Direct Investments Abroad 906 1160 1694 2. Portfolio Investment 2652 2846 2519 2.1 Equity Securities 15 196 208 2.2 Debt Securities 2637 2650 2311 3. Other Investment 2515 4265 5328 3.1 Trade Credits 1161 1399 1340 3.2 Loans 670 888 1071 3.3 Currency and Deposits 474 723 1060 3.4 Other Assets 210 1255 1857 4. Reserves Assets 10808 15473 19662 4.1 Monetary Gold 123 170 169 4.2 Special Drawing Rights 11 12 12 4.3 Reserves Position in the Fund 11 8 20 4.4 Foreign Exchange 10663 15282 19460 B. Liabilities 10347 12125 14013 1. Foreign Direct Investments 6144 7037 8763 2. Portfolio Investment 1207 1466 1612 2.1 Equity Securities 1065 1290 1440 2.2 Debt Securities 142 176 172 3. Other Investment 2996 3622 3637 3.1 Trade Credits 1040 1331 1141 3.2 Loans 985 1033 1030 3.3 Currency and Deposits 589 785 910 3.4 Other Liabilities 382 473 557 Note: 1. This IIP employs rounded-off numbers. 2. Net position refers to assets minus liabilities, + means net assets, and -means net liabilities. Compilation Principles and Indexes for the IIP I. Compilation Principles for the IIP In accordance with the standards of the Balance of Payments Manual (Fifth Edition) published by the International Monetary Fund (IMF), the IIP is a statistical statement which reflects at a specific point the stocks of financial assets and liabilities of one country or region to other countries or regions of the world. Changes in the IIP can be caused by changes in the transactions, prices, and exchange rates, as well as by other adjustments during specific periods. The IIP remains consistent with the BOP statement with regard to the principles of valuation, measurement, and conversion, and together with the BOP statement constitutes a complete international accounts system of the country or region. Chinas IIP is a statistical statement which reflects at a specific point the stocks of the financial assets and liabilities of China (excluding that in Hong Kong SAR, Macao SAR, and Taiwan Province) to other countries or regions of the world. II. Explanation of the Major IIP Indexes According to the standards of the IMF, the items on the IIP are categorized according to assets and liabilities. The assets are divided into China's direct investments abroad, portfolio investments, other investments, and reserves assets, and the liabilities are divided into foreign direct investments, portfolio investments, and other investments. The net position refers to external assets minus external liabilities. The items are specifically defined as follows: 1. Direct Investment: Refers to external investment in which an investor of one country operates an enterprise located in another country with the aim of acquiring effective control over the enterprise. It consists of direct investment abroad and foreign direct investment. Direct investment abroad includes the stocks of the direct investment abroad conducted by China's non-financial sectors, the stocks of the capital fund and working capital appropriated by domestic banks to set up branches overseas, as well as the stocks of the loans between parent companies and subsidiaries both in China and abroad, and the stocks of other receivables and payables. Foreign direct investment includes the stocks of foreign direct investment absorbed by China's non-financial sectors, the stocks of direct investment overseas absorbed by the financial sectors (including foreign investment attracted by branches of foreign financial sectors and Chinese-funded financial sectors, and investments by the foreign party in joint financial sectors), as well as the stocks of the loans between parent companies and subsidiaries both in China and abroad and the stocks of other receivables and payables. 2. Portfolio Investment: Includes some types of investment such as shares, long- and medium-term bonds, and money-market instruments. Portfolio investment assets refer to holdings of negotiable securities, such as shares, bonds, money-market instruments, and derivative financial instruments, which are held by Chinese residents but issued by non-resident enterprises. Portfolio investment liabilities refer to shares and bonds held by non-resident enterprises but issued by Chinese residents. 2.1 Equity Securities: Comprise securities in the form of stocks. 2.2 Debt Securities: Include long-term and medium-term bonds, short-term (one year or less) bonds, and money-market instruments or transferable debt instruments such as short-term treasury notes, commercial papers, and large-sum short-term negotiable certificates of deposits. 3. Other Investment: Refers to all the financial assets and liabilities, including trade credits, loans, currency, and deposits, as well as other assets and liabilities, but excluding direct investments, portfolio investments, and reserves assets. Long term means that the contract period of the relevant financial assets/liabilities is longer than one year, and short term means that the contract period is one year or less. 3.1 Trade Credits: Refers to the direct business credit arising from the import and export of goods between China and other countries. Assets refer to the receivables of China's exporters and the advance payments by Chinas importers, and liabilities refer to the payables of Chinas importers and the advance receipts of China's exporters. 3.2 Loans: Assets refer to the external assets held by domestic institutions by providing loans and lending to overseas institutions; and liabilities refer to the loans borrowed by domestic institutions, such as loans from foreign governments, loans from international institutions, loans from foreign banks, and sellers credit. 3.3 Currency and Deposits: Assets refer to the funds deposited abroad and the foreign cash in stock held by China's financial institutions; and liabilities refer to the overseas private deposits and short-term funds from foreign banks attracted by China's financial institutions, as well as other short-term funds like loans from foreign exporters and individuals. 3.4 Other Assets/Liabilities: Refer to the investments other than trade credits, loans, currency, and deposits, for example, the capital paid by non-currency international institutions and other receivables and payables. 4. Reserves Assets: Refer to the external assets that can be used at any time and are effectively controlled by the PBOC, consisting of monetary gold, special drawing rights (SDRs), the reserves position in the Fund, and foreign exchange. 4.1 Monetary Gold: Refers to the gold held by the PBOC as reserve. 4.2 Special Drawing Rights: is a type of ledger assets, which is allocated by the IMF according to the capital share of its members; it can be used to repay the debt to the IMF and can make up for the deficit in the balance of payments between the governments of member countries. 4.3 Reserves Position in the Fund: Refer to the assets that are in the ordinary accounts of the IMF and that can be used freely. 4.4 Foreign Exchange: Refers to the current assets and liabilities that are retained by the PBOC and that can be used as a means of international compensation. (End) 2009-06-02/en/2009/0602/890.html
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In order to promote administration in accordance with the law and to guarantee the uniformity and solemnity of the foreign exchange administration regulations, the State Administration of Foreign Exchange (SAFE) recently issued the Circular on Announcing the List of Repealed and Expired Regulatory Documents on Foreign Exchange Administration (hereinafter referred to as the Circular). During the past years, the foreign exchange administration authorities, in compliance with the overall planning of the Party Central Committee and the State Council, have been dedicated to deepening the reform of the foreign exchange administration system and strengthening the institutional building of foreign exchange administration, which have played a significant role in fostering the countrys reform and opening-up, maintaining an equilibrium in the balance of payments, and preventing foreign-related economic and financial risks. In recent years there has been a rapid development of the national economy and profound changes in international economic circumstances. The foreign exchange administration system has undergone remarkable changes in terms of context, content, and form. Some regulations are becoming increasingly inapplicable to the needs of economic development, some of which have been replaced by new regulations, some have expired, and some have ceased to function as the revised object no longer exists. In response to the circumstances in foreign exchange administration, the Circular cancels 91 regulations on foreign exchange administration, of which 57 are repealed and 34 are declared to have expired. These regulations fall into four categories: 1. Some foreign exchange administration regulations dealing with statistics declaring identification and trading codes for the balance of payments, foreign exchange accounts, management of highlighted enterprises, sale and payment of foreign exchange under the current account, deferred foreign exchange payments for imports, international postal remittances, settlement of import L/C issuances, joint annual inspections of foreign investment, acquisitions by foreign investment as well as real estate market management are repealed or declared invalid since they are inapplicable to the needs of economic and financial development. 2. The Regulations on Foreign Exchange Administration revised in 2008 are put into effect. Some rules and regulations regarding application of the articles of the Regulations on Foreign Exchange Administration issued in 1996 and administrative punishment are repealed or declared invalid. 3. Some foreign exchange administration regulations applicable during special or trial periods have expired and are repealed or declared invalid, including regulations applicable during the start-up and transition period of the euro in 1999, the SARS prevention and treatment period in 2003, the implementation period for the Administrative Licensing Law in 2004, the Olympics Games and their preparation in 2008, the period for combating the Wenchuan earthquake in 2008, as well as those applicable to offshore financial business trials, and pilot operations of foreign exchange purchases under the non-trade account in bonded logistics zones. 4. Eleven foreign exchange administration regulations which were suspended and have been proven to be unnecessary are repealed. The promulgation and enforcement of the Circular will be conducive for enterprises and banks to better exercise foreign exchange administration policies. The perfection of foreign exchange administration laws and regulations and reinforcement of non-the-spot supervision will enable the administration to achieve a smooth policy transition and to realize balanced management of inflows and outflows of cross-border funds. The Circular shall come into effect as of the date of promulgation. (End) 2009-05-20/en/2009/0520/888.html
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In order to carry out the six policy measures of the State Council for further stabilizing external demand, increasing the efficiency of fund use by domestic enterprises, and supporting the go global move of enterprises of diverse ownerships to stimulate exports, and based on the earnest efforts of drawing from previous experience in the trial reform for providing overseas lending, the SAFE recently issued the Circular on Related Issues Regarding Foreign Exchange Administration of Overseas Lending Granted by Domestic Enterprises (hereinafter referred to as the Circular). The Circular will take effect as of August 1, 2009. The content of the Circular mainly consists of the following: First, the scope of the lenders for overseas loans is expanded from the qualified Chinese and foreign-funded transnational companies currently in force to qualified enterprises of diverse ownerships. Second, the fund sources for overseas lending are expanded. Domestic enterprises are allowed to provide overseas lending through the use of diverse forms of fund sources within certain limitations, such as self-owned foreign exchange and foreign exchange purchased with the home currency. Third, the ratification and exchange procedures for overseas lending are streamlined. Matters concerning the opening of special foreign exchange accounts for overseas lending, fund transfers within China, and the purchase of foreign exchange etc. will all be directly handled by the designated foreign exchange banks. Fourth, the statistical monitoring and risk prevention mechanism for overseas lending has been improved. The administrative system for ratification of the qualifications and quota for overseas lending has been perfected, the valid term for overseas lending has been clarified, and a sound statistical monitoring mechanism for the inflows and outflows of foreign exchange funds for overseas lending has been established. Implementation of the Circular will facilitate efforts by domestic enterprises to take full advantage of two markets, two sources of funds, enhancing international economic and technological cooperation, and to ease enterprise financing difficulties in making direct overseas investments due to insufficient liquid funds, and will bolster the go-globalefforts of enterprises of diverse ownerships as a way to stimulate exports and further promote the development and expansion of enterprises making direct investments abroad. (End) 2009-06-09/en/2009/0609/891.html
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In order to further promote the facilitation of investment and trade and support the development of the real economy, the State Administration of Foreign Exchange (SAFE) recently released the Circular on adjusting the approval authority for certain foreign exchange businesses under the capital account (Huifa 2009No.21) in compliance with the economic work priorities of maintaining growth, expanding domestic demand, adjusting the economic structure, and attaching importance to the peoples livelihood as set out by the CPC Central Committee. According to the Circular, part of the approval authority for foreign exchange business under the capital account involving ten types of business will be delegated by the SAFE to its local branches, including inter-city opening of capital accounts, providing guarantees to foreign enterprises by domestic institutions, transfer of individual property abroad, and some cases of market exits under the securities account, etc. In compliance with the principle of clarifying authority and responsibility, making arrangements on a scientific basis, keeping risks under control, and facilitating the operations of the involved parties, the SAFE will formulate and perfect operational procedures and policy standards so as to enhance the post-supervision and inspection of issues related to the said approvals. The local branches can make relevant authorizations to the central sub-branches (sub-branches) under their jurisdiction according to the situations in the areas under their jurisdiction and in compliance with the relevant requirements of the internal control system. The decision to further delegate approval authority for foreign exchange business to the local branches is conducive to facilitating the business operations of enterprises, shortening the time needed for examination and approval, enhancing the efficiency of administration, as well as decreasing policy costs. The decision will also play a positive role in helping the foreign exchange authorities at all levels further clarify their work responsibilities and perfect their administration. (End) 2009-05-27/en/2009/0527/889.html
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The State Administration of Foreign Exchange (SAFE) recently issued the Notice on Examination and Ratification of Short-term External Debt Quotas of Financial Institutions in 2009 (hereinafter referred to as the "Notice"), which discloses the examination and ratification scheme for short-term external debt quotas of financial institutions in 2009. The Notice also clarifies the scale, specifications, and purposes of short-term external debts. In 2009 the management of short-term external debts is implemented under the guidance of "maintaining growth, guarding against possible risks, and promoting balance," using the methodology of "ensuring the controllability of an increase in the overall scale and taking into account the efficiency and fairness of the individual institutions." The SAFE has adjusted the short-term external debt quotas of national-level Chinese and foreign-funded banks with legal person status and the quotas of various regions. The examined and ratified short-term external debt quotas of financial institutions total US$32.9 billion, representing a 12 percent increase over that in 2008. The Notice attaches special importance to the financing of trade activities. According to the scheme, the Chinese and foreign-funded financial institutions entitled to the incremental quotas should make use of the total quota increment to support the financing of imports and exports of domestic enterprises. The quota increment of the various regions shall be used preferentially to support financial institutions with a larger volume of trade settlement. These measures will help facilitate the guidance policy on short-term external debt management, as well as ensure the healthy and stable development of China's foreign trade. The Notice makes clear that the SAFE will transfer authority for examining and ratifying quotas of financial institutions that have a close relation to the development of the local economy and quotas in need of timely adjustment from the SAFE headquarters to its branches, with the purpose of further increasing efficiency in the use of short-term external debt quotas and bolstering regional economic development. 2009-04-17/en/2009/0417/884.html
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At the end of 2008, China's outstanding external debt (excluding that of Hong Kong SAR, Macao SAR, and Taiwan Province) reached USD 374.661 billion, an increase of USD 1.043 billion, or 0.28%, compared with that at the end of 2007. Specifically, the outstanding long- and medium-term external debt reached USD 163.876 billion, an increase of USD 10.342 billion, or 6.74%, compared with that at the end of 2007, accounting for 43.74% of the total outstanding external debt. The outstanding short-term external debt totaled USD 210.785 billion, a decrease of USD 9.299 billion, or 4.23%, compared with that at the end of 2007, accounting for 56.26% of the total outstanding external debt. Among the outstanding registered external debt of USD 260.561 billion, the outstanding sovereign debt borrowed by ministries under the State Council totaled USD 33.287 billion, accounting for 12.78%; the outstanding debt of Chinese-funded financial institutions was USD 82.810 billion, accounting for 31.78%; the outstanding debt of foreign-funded enterprises was USD 96.133 billion, accounting for 36.89%; the outstanding debt of foreign-funded financial institutions in China was USD 43.530 billion, accounting for 16.71%; the outstanding debt of Chinese-funded enterprises was USD 4.471 billion, accounting for 1.72%; and the outstanding debt of other institutions was USD 330 million, accounting for 0.12%. The amount of long- and medium-term external debt in 2008 was USD 36.307 billion, an increase of USD 291 million, or 0.81%, over that of the previous year. The principal repayment for long- and medium-term external debt was USD 23.291 billion, an increase of USD 3.024 billion, or 14.92%, over that in the previous year. The interest payment was USD 4.154 billion, a decrease of USD 804 million, or 16.22%, compared with that in the previous year. Initial calculations reveal that the debt service ratio in 2008 was 1.78%, the ratio of the outstanding external debt to foreign exchange income was 23.69%, the ratio of outstanding external debt to GDP was 8.65%, and the ratio of the short-term external debt to foreign exchange reserves was 10.83%. All of these indexes are within the safe range of international standards. 2009-04-24/en/2009/0424/887.html
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2020年四季度，我国经常账户顺差8601亿元，其中，货物贸易顺差12788亿元，服务贸易逆差1878亿元，初次收入逆差2582亿元，二次收入顺差273亿元。资本和金融账户中，直接投资顺差3784亿元，储备资产增加1628亿元。 2020年，我国经常账户顺差20437亿元，其中，货物贸易顺差36611亿元，服务贸易逆差10040亿元，初次收入逆差6776亿元，二次收入顺差642亿元。资本和金融账户中，直接投资顺差6991亿元，储备资产增加1878亿元。 按美元计值，2020年四季度，我国经常账户顺差1302亿美元，其中，货物贸易顺差1936亿美元，服务贸易逆差284亿美元，初次收入逆差391亿美元，二次收入顺差41亿美元。资本和金融账户中，直接投资顺差573亿美元，储备资产增加246亿美元。 按美元计值，2020年，我国经常账户顺差2989亿美元，其中，货物贸易顺差5338亿美元，服务贸易逆差1453亿美元，初次收入逆差990亿美元，二次收入顺差94亿美元。资本和金融账户中，直接投资顺差1034亿美元，储备资产增加280亿美元。 按SDR计值，2020年四季度，我国经常账户顺差914亿SDR，其中，货物贸易顺差1359亿SDR，服务贸易逆差200亿SDR。资本和金融账户中，直接投资顺差402亿SDR，储备资产增加173亿SDR。 按SDR计值，2020年，我国经常账户顺差2125亿SDR，其中，货物贸易顺差3817亿SDR，服务贸易逆差1051亿SDR。资本和金融账户中，直接投资顺差736亿SDR，储备资产增加193亿SDR。（完） 中国国际收支平衡表（初步数） 单位：亿元 项 目 行次 2020年四季度 2020年全年 1. 经常账户 1 8,601 20,437 贷方 2 58,732 207,292 借方 3 -50,130 -186,855 1.A 货物和服务 4 10,911 26,571 贷方 5 54,032 188,526 借方 6 -43,122 -161,955 1.A.a 货物 7 12,788 36,611 贷方 8 49,565 172,337 借方 9 -36,777 -135,726 1.A.b 服务 10 -1,878 -10,040 贷方 11 4,467 16,189 借方 12 -6,345 -26,229 1.A.b.1 加工服务 13 217 876 贷方 14 226 910 借方 15 -9 -34 1.A.b.2 维护和维修服务 16 72 296 贷方 17 136 528 借方 18 -64 -232 1.A.b.3 运输 19 -501 -2,629 贷方 20 1,186 3,892 借方 21 -1,688 -6,521 1.A.b.4 旅行 22 -1,701 -8,022 贷方 23 206 984 借方 24 -1,907 -9,005 1.A.b.5 建设 25 128 314 贷方 26 282 869 借方 27 -154 -555 1.A.b.6 保险和养老金服务 28 -95 -481 贷方 29 110 370 借方 30 -205 -851 1.A.b.7 金融服务 31 19 66 贷方 32 82 294 借方 33 -63 -228 1.A.b.8 知识产权使用费 34 -496 -2,014 贷方 35 155 589 借方 36 -651 -2,603 1.A.b.9 电信、计算机和信息服务 37 132 403 贷方 38 716 2,675 借方 39 -585 -2,272 1.A.b.10 其他商业服务 40 381 1,360 贷方 41 1,306 4,835 借方 42 -925 -3,475 1.A.b.11 个人、文化和娱乐服务 43 -40 -137 贷方 44 19 70 借方 45 -59 -207 1.A.b.12 别处未提及的政府服务 46 6 -73 贷方 47 42 173 借方 48 -36 -246 1.B 初次收入 49 -2,582 -6,776 贷方 50 4,013 16,195 借方 51 -6,595 -22,971 1.C 二次收入 52 273 642 贷方 53 686 2,571 借方 54 -413 -1,929 2. 资本和金融账户（含当季净误差与遗漏） 55 -8,601 -13,762 2.1 资本账户 56 3 -6 贷方 57 4 11 借方 58 -1 -17 2.2 金融账户（含当季净误差与遗漏） 59 -8,604 -13,756 2.2.1 非储备性质的金融账户（含当季净误差与遗漏） 60 -6,976 -11,878 其中：2.2.1.1 直接投资 61 3,784 6,991 2.2.1.1.1 直接投资资产 62 -1,944 -7,553 2.2.1.1.2直接投资负债 63 5,728 14,544 2.2.2 储备资产 64 -1,628 -1,878 2.2.2.1 货币黄金 65 0 0 2.2.2.2 特别提款权 66 -4 7 2.2.2.3 在国际货币基金组织的储备头寸 67 -56 -132 2.2.2.4 外汇储备 68 -1,567 -1,753 2.2.2.5 其他储备 69 0 0 3. 净误差与遗漏 70 0 -6,676 注：1.根据《国际收支和国际投资头寸手册》（第六版）编制 2.“贷方”按正值列示，“借方”按负值列示，差额等于“贷方”加上“借方”。本表除标注“贷方”和“借方”的项目外，其他项目均指差额 3.以人民币计值的国际收支平衡表的折算方法为，当季以美元计值的国际收支平衡表，通过当季人民币对美元季平均汇率中间价折算 4. 2020年全年初步数为前三季度平衡表正式数与四季度平衡表初步数累加得到。其中，2020年四季度初步数的资本和金融账户因含净误差与遗漏，与经常账户差额金额相等，符号相反。四季度初步数的金融账户、非储备性质的金融账户同样含当季净误差与遗漏。2020年前三季度正式数的资本和金融账户、金融账户和非储备性质的金融账户均不含净误差与遗漏，净误差与遗漏项目单独列示 5.本表计数采用四舍五入原则 中国国际收支平衡表（初步数） 单位：亿美元 项 目 行次 2020年四季度 2020年全年 1. 经常账户 1 1,302 2,989 贷方 2 8,889 30,134 借方 3 -7,587 -27,145 1.A 货物和服务 4 1,651 3,885 贷方 5 8,178 27,412 借方 6 -6,527 -23,527 1.A.a 货物 7 1,936 5,338 贷方 8 7,502 25,060 借方 9 -5,566 -19,722 1.A.b 服务 10 -284 -1,453 贷方 11 676 2,352 借方 12 -960 -3,805 1.A.b.1 加工服务 13 33 127 贷方 14 34 132 借方 15 -1 -5 1.A.b.2 维护和维修服务 16 11 43 贷方 17 21 77 借方 18 -10 -34 1.A.b.3 运输 19 -76 -381 贷方 20 180 566 借方 21 -255 -947 1.A.b.4 旅行 22 -257 -1,162 贷方 23 31 142 借方 24 -289 -1,305 1.A.b.5 建设 25 19 46 贷方 26 43 127 借方 27 -23 -81 1.A.b.6 保险和养老金服务 28 -14 -70 贷方 29 17 54 借方 30 -31 -123 1.A.b.7 金融服务 31 3 10 贷方 32 12 43 借方 33 -9 -33 1.A.b.8 知识产权使用费 34 -75 -292 贷方 35 24 86 借方 36 -99 -378 1.A.b.9 电信、计算机和信息服务 37 20 59 贷方 38 108 389 借方 39 -88 -330 1.A.b.10 其他商业服务 40 58 198 贷方 41 198 702 借方 42 -140 -504 1.A.b.11 个人、文化和娱乐服务 43 -6 -20 贷方 44 3 10 借方 45 -9 -30 1.A.b.12 别处未提及的政府服务 46 1 -11 贷方 47 6 25 借方 48 -5 -36 1.B 初次收入 49 -391 -990 贷方 50 607 2,348 借方 51 -998 -3,339 1.C 二次收入 52 41 94 贷方 53 104 373 借方 54 -63 -279 2. 资本和金融账户（含当季净误差与遗漏） 55 -1,302 -2,040 2.1 资本账户 56 0 -1 贷方 57 1 2 借方 58 0 -2 2.2 金融账户（含当季净误差与遗漏） 59 -1,302 -2,039 2.2.1 非储备性质的金融账户（含当季净误差与遗漏） 60 -1,056 -1,759 其中：2.2.2.1 直接投资 61 573 1,034 2.2.2.1.1 直接投资资产 62 -294 -1,096 2.2.2.1.2直接投资负债 63 867 2,130 2.2.2 储备资产 64 -246 -280 2.2.2.1 货币黄金 65 0 0 2.2.2.2 特别提款权 66 -1 1 2.2.2.3 在国际货币基金组织的储备头寸 67 -9 -19 2.2.2.4 外汇储备 68 -237 -262 2.2.2.5 其他储备 69 0 0 3. 净误差与遗漏 70 0 -949 注：1.根据《国际收支和国际投资头寸手册》（第六版）编制 2.“贷方”按正值列示，“借方”按负值列示，差额等于“贷方”加上“借方”。本表除标注“贷方”和“借方”的项目外，其他项目均指差额 3.2020年全年初步数为前三季度平衡表正式数与四季度平衡表初步数累加得到。其中，2020年四季度初步数的资本和金融账户因含净误差与遗漏，与经常账户差额金额相等，符号相反。四季度初步数的金融账户、非储备性质的金融账户同样含当季净误差与遗漏。2020年前三季度正式数的资本和金融账户、金融账户和非储备性质的金融账户均不含净误差与遗漏，净误差与遗漏项目单独列示 4.本表计数采用四舍五入原则 中国国际收支平衡表（初步数） 单位：亿SDR 项 目 行次 2020年四季度 2020年全年 1. 经常账户 1 914 2,125 贷方 2 6,241 21,670 借方 3 -5,327 -19,545 1.A 货物和服务 4 1,159 2,766 贷方 5 5,741 19,714 借方 6 -4,582 -16,948 1.A.a 货物 7 1,359 3,817 贷方 8 5,267 18,019 借方 9 -3,908 -14,202 1.A.b 服务 10 -200 -1,051 贷方 11 475 1,695 借方 12 -674 -2,746 1.A.b.1 加工服务 13 23 92 贷方 14 24 95 借方 15 -1 -4 1.A.b.2 维护和维修服务 16 8 31 贷方 17 14 55 借方 18 -7 -24 1.A.b.3 运输 19 -53 -275 贷方 20 126 407 借方 21 -179 -682 1.A.b.4 旅行 22 -181 -841 贷方 23 22 103 借方 24 -203 -945 1.A.b.5 建设 25 14 33 贷方 26 30 91 借方 27 -16 -58 1.A.b.6 保险和养老金服务 28 -10 -50 贷方 29 12 39 借方 30 -22 -89 1.A.b.7 金融服务 31 2 7 贷方 32 9 31 借方 33 -7 -24 1.A.b.8 知识产权使用费 34 -53 -210 贷方 35 17 62 借方 36 -69 -272 1.A.b.9 电信、计算机和信息服务 37 14 42 贷方 38 76 280 借方 39 -62 -238 1.A.b.10 其他商业服务 40 40 143 贷方 41 139 506 借方 42 -98 -363 1.A.b.11 个人、文化和娱乐服务 43 -4 -14 贷方 44 2 7 借方 45 -6 -22 1.A.b.12 别处未提及的政府服务 46 1 -8 贷方 47 4 18 借方 48 -4 -26 1.B 初次收入 49 -274 -709 贷方 50 426 1,687 借方 51 -701 -2,396 1.C 二次收入 52 29 67 贷方 53 73 269 借方 54 -44 -202 2. 资本和金融账户（含当季净误差与遗漏） 55 -914 -1,442 2.1 资本账户 56 0 -1 贷方 57 0 1 借方 58 0 -2 2.2 金融账户（含当季净误差与遗漏） 59 -914 -1,442 2.2.1 非储备性质的金融账户（含当季净误差与遗漏） 60 -741 -1,249 其中：2.2.2.1 直接投资 61 402 736 2.2.2.1.1 直接投资资产 62 -207 -788 2.2.2.1.2直接投资负债 63 609 1,524 2.2.2 储备资产 64 -173 -193 2.2.2.1 货币黄金 65 0 0 2.2.2.2 特别提款权 66 0 1 2.2.2.3 在国际货币基金组织的储备头寸 67 -6 -14 2.2.2.4 外汇储备 68 -167 -180 2.2.2.5 其他储备 69 0 0 3. 净误差与遗漏 70 0 -682 注：1.根据《国际收支和国际投资头寸手册》（第六版）编制 2.“贷方”按正值列示，“借方”按负值列示，差额等于“贷方”加上“借方”。本表除标注“贷方”和“借方”的项目外，其他项目均指差额 3. 季度SDR计值的国际收支平衡表数据，由当季以美元计值的国际收支平衡表，通过当季SDR对美元季平均汇率折算得到 4. 2020年全年初步数为前三季度平衡表正式数与四季度平衡表初步数累加得到。其中，2020年四季度初步数的资本和金融账户因含净误差与遗漏，与经常账户差额金额相等，符号相反。四季度初步数的金融账户、非储备性质的金融账户同样含当季净误差与遗漏。2020年前三季度正式数的资本和金融账户、金融账户和非储备性质的金融账户均不含净误差与遗漏，净误差与遗漏项目单独列示 5.本表计数采用四舍五入原则 2021-02-22/xiamen/2021/0222/1673.html
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2021年1月，我国国际收支口径的国际服务贸易收入1542亿元，支出2123亿元，逆差581亿元。 按美元计值，2021年1月，我国国际收支口径的国际服务贸易收入238亿美元，支出328亿美元，逆差90亿美元。（完） 中国国际服务贸易（国际收支口径） 2021年1月 项目 按人民币计值 （亿元） 按美元计值 （亿美元） 1.服务贸易差额 -581 -90 贷方 1542 238 借方 -2123 -328 1.1加工服务差额 70 11 贷方 73 11 借方 -3 -1 1.2维护和维修服务差额 23 4 贷方 40 6 借方 -17 -3 1.3运输差额 -117 -18 贷方 461 71 借方 -578 -89 1.4旅行差额 -677 -105 贷方 64 10 借方 -741 -114 1.5建设差额 -6 -1 贷方 54 8 借方 -60 -9 1.6保险和养老金服务差额 -30 -5 贷方 26 4 借方 -56 -9 1.7金融服务差额 16 3 贷方 36 6 借方 -20 -3 1.8知识产权使用费差额 -131 -20 贷方 38 6 借方 -169 -26 1.9电信、计算机和信息服务差额 43 7 贷方 251 39 借方 -208 -32 1.10其他商业服务差额 236 36 贷方 487 75 借方 -251 -39 1.11个人、文化和娱乐服务差额 -5 -1 贷方 6 1 借方 -11 -2 1.12别处未提及的政府服务差额 -3 0 贷方 6 1 借方 -10 -1 注： 1. 因海关将于3月公布1月和2月进出口数据，2021年1月国际收支口径的货物贸易数据也将与2月数据一并发布。 2. 本表所称服务贸易与国际收支平衡表中的服务口径一致，是指居民与非居民之间发生的交易。月度数据为初步数据，可能与国际收支平衡表中的季度数据不一致。 3. 国际服务贸易数据按美元编制，当月人民币计值数据由美元数据按月均人民币对美元中间价折算得到。 4. 本表计数采用四舍五入原则。 指标解释： 1．服务贸易：包括加工服务，维护和维修服务，运输，旅行，建设，保险和养老金服务，金融服务，知识产权使用费，电信、计算机和信息服务，其他商业服务，个人、文化和娱乐服务以及别处未提及的政府服务。贷方记录提供的服务，借方记录接受的服务。 1.1加工服务：又称“对他人拥有的实物投入的制造服务”，指货物的所有权没有在所有者和加工方之间发生转移，加工方仅提供加工、装配、包装等服务，并从货物所有者处收取加工服务费用。贷方记录我国居民为非居民拥有的实物提供的加工服务。借方记录我国居民接受非居民的加工服务。 1.2维护和维修服务：指居民或非居民向对方所拥有的货物和设备（如船舶、飞机及其他运输工具）提供的维修和保养工作。贷方记录我国居民向非居民提供的维护和维修服务。借方记录我国居民接受的非居民维护和维修服务。 1.3运输：指将人和物体从一地点运送至另一地点的过程以及相关辅助和附属服务，以及邮政和邮递服务。贷方记录居民向非居民提供的国际运输、邮政快递等服务。借方记录居民接受的非居民国际运输、邮政快递等服务。 1.4旅行：指旅行者在其作为非居民的经济体旅行期间消费的物品和购买的服务。贷方记录我国居民向在我国境内停留不足一年的非居民以及停留期限不限的非居民留学人员和就医人员提供的货物和服务。借方记录我国居民境外旅行、留学或就医期间购买的非居民货物和服务。 1.5建设服务：指建筑形式的固定资产的建立、翻修、维修或扩建，工程性质的土地改良、道路、桥梁和水坝等工程建筑，相关的安装、组装、油漆、管道施工、拆迁和工程管理等，以及场地准备、测量和爆破等专项服务。贷方记录我国居民在经济领土之外提供的建设服务。借方记录我国居民在我国经济领土内接受的非居民建设服务。 1.6保险和养老金服务：指各种保险服务，以及同保险交易有关的代理商的佣金。贷方记录我国居民向非居民提供的人寿保险和年金、非人寿保险、再保险、标准化担保服务以及相关辅助服务。借方记录我国居民接受非居民的人寿保险和年金、非人寿保险、再保险、标准化担保服务以及相关辅助服务。 1.7金融服务：指金融中介和辅助服务，但不包括保险和养老金服务项目所涉及的服务。贷方记录我国居民向非居民提供的金融中介和辅助服务。借方记录我国居民接受非居民的金融中介和辅助服务。 1.8知识产权使用费：指居民和非居民之间经许可使用无形的、非生产/非金融资产和专有权以及经特许安排使用已问世的原作或原型的行为。贷方记录我国居民向非居民提供的知识产权相关服务。借方记录我国居民使用的非居民知识产权服务。 1.9电信、计算机和信息服务：指居民和非居民之间的通信服务以及与计算机数据和新闻有关的服务交易，但不包括以电话、计算机和互联网为媒介交付的商业服务。贷方记录本国居民向非居民提供的电信服务、计算机服务和信息服务。借方记录本国居民接受非居民提供的电信服务、计算机服务和信息服务。 1.10其他商业服务: 指居民和非居民之间其他类型的服务，包括研发服务，专业和管理咨询服务，技术、贸易相关等服务。贷方记录我国居民向非居民提供的其他商业服务。借方记录我国居民接受的非居民其他商业服务。 1.11个人、文化娱乐服务:指居民和非居民之间与个人、文化和娱乐有关的服务交易，包括视听和相关服务（电影、收音机、电视节目和音乐录制品），其他个人、文化娱乐服务（健康、教育等）。贷方记录我国居民向非居民提供的相关服务。借方记录我国居民接受的非居民相关服务。 1.12别处未提及的政府服务：指在其他货物和服务类别中未包括的政府和国际组织提供和购买的各项货物和服务。贷方记录我国居民向非居民提供的别处未涵盖的货物和服务。借方记录我国居民向非居民购买的别处未涵盖的货物和服务。 2021-03-02/xiamen/2021/0302/1679.html