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In the second quarter of 2020, China's current account registered a surplus of RMB 780.4 billion, and the capital and financial accounts recorded a deficit of RMB 244.3 billion.The financial account (excluding reserve assets) recorded a deficit of RMB 108.6 billion, and reserve assets rose by RMB 135.6 billion. In the first half of 2020, China's current account registered a surplus of RMB 545.3 billion, and the capital and financial accounts recorded a deficit of RMB 166.8 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 205.4 billion, and reserve assets decreased by RMB 39.3 billion. In SDR terms, in the second quarter of 2020, China posted a surplus of SDR 80.5 billion under the current account, and a deficit of SDR 25.2 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 11.2 billion, and reserves assets rose by SDR 14 billion. In SDR terms, in first half of 2020, China posted a surplus of SDR 55.5 billion under the current account, and a deficit of SDR 16.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 21.5 billion, and a decrease of SDR 4.6 billion under reserves assets. In the US dollar terms, in the second quarter of 2020, China's current account recorded a surplus of USD 110.2 billion, including a surplus of USD 161.3 billion under trade in goods, a deficit of USD 29.5 billion under trade in services, a deficit of USD 22.5 billion under primary income, and a surplus of USD 900 million under secondary income. The capital and financial accounts recorded a deficit of USD 34.5 billion, including a deficit of USD 10 million under the capital account, a deficit of USD 15.3 billion under the financial account (excluding reserve assets), and an increase of USD 19.1 billion under reserves assets. In the US dollar terms, in the first half of 2020, China's current account recorded a surplus of USD 76.5 billion, including a surplus of USD 184.4 billion under trade in goods, a deficit of USD 76.6 billion under trade in services, a deficit of USD 33.9 billion under primary income, and a surplus of USD 2.5 billion under secondary income. The capital and financial accounts recorded a deficit of USD 23.4 billion, including a deficit of USD 100 million under the capital account, a deficit of USD 29.2 billion under the financial account (excluding reserve assets), and a decrease of USD 5.9 billion under reserves assets. In addition, to facilitate understanding of China’s Balance of Payments and International Investment Position among all users, the BOP Analysis Team of SAFE released China’s Balance of Payments Report for the First Half of 2020 (in Chinese). (End) Abridged Balance of Payments of China, Second Quarter of 2020 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 7,804 1,102 805 Credit 2 52,447 7,403 5,408 Debit 3 -44,642 -6,302 -4,603 1. A Goods and Services 4 9,336 1,318 963 Credit 5 46,728 6,596 4,818 Debit 6 -37,392 -5,278 -3,856 1.A.a Goods 7 11,427 1,613 1,178 Credit 8 42,777 6,038 4,411 Debit 9 -31,351 -4,425 -3,233 1.A.b Services 10 -2,090 -295 -216 Credit 11 3,951 558 407 Debit 12 -6,041 -853 -623 1.B Primary Income 13 -1,597 -225 -165 Credit 14 5,140 726 530 Debit 15 -6,737 -951 -695 1.C Secondary Income 16 66 9 7 Credit 17 579 82 60 Debit 18 -514 -73 -53 2. Capital and Financial Account 19 -2,443 -345 -252 2.1 Capital Account 20 -1 0 0 Credit 21 3 0 0 Debit 22 -4 0 0 2.2 Financial Account 23 -2,441 -345 -252 Assets 24 -9,730 -1,373 -1,003 Liabilities 25 7,288 1,029 752 2.2.1 Financial Account Excluding Reserve Assets 26 -1,086 -153 -112 2.2.1.1 Direct Investment 27 333 47 34 Assets 28 -2,066 -292 -213 Liabilities 29 2,399 339 247 2.2.1.2 Portfolio Investment 30 3,006 424 310 Assets 31 -1,671 -236 -172 Liabilities 32 4,676 660 482 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 -317 -45 -33 Assets 34 -251 -35 -26 Liabilities 35 -66 -9 -7 2.2.1.4 Other Investment 36 -4,108 -580 -424 Assets 37 -4,386 -619 -452 Liabilities 38 279 39 29 2.2.2 Reserve Assets 39 -1,356 -191 -140 3. Net Errors and Omissions 40 -5,362 -757 -553 Notes: 1.The statement is compiled according to BPM6. Reserve assets are included incapital and financial accounts. 2."Credit" is presented as positive value while "debit" as negative value, and the balance is the sum of the "Credit" and the "Debit". All items herein refer to balance, unless marked with "Credit" or "Debit". 3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data, using quarterly average central parity rate of RMB against USD. The quarterly accumulated RMB denominated BOP data is derived from the sum total of the RMB denominated data for the quarters. 4.The SDR denominated quarterly BOP data is converted from the USD denominated BOP data, using quarterly average exchange rate of SDR against USD. The quarterly accumulated SDR denominated BOP data is derived from the sum total of the SDR denominated data for the quarters. 5.This statement employs rounded-off numbers. 6.For detailed data, please see “Data and Statistics” at the website of SAFE. Abridged China’s Balance of Payments, First Half of 2020 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 5,453 765 555 Credit 2 91,243 12,962 9,536 Debit 3 -85,790 -12,198 -8,982 1. A Goods and Services 4 7,665 1,078 785 Credit 5 83,040 11,799 8,682 Debit 6 -75,375 -10,721 -7,897 1.A.a Goods 7 13,039 1,844 1,350 Credit 8 75,290 10,697 7,871 Debit 9 -62,252 -8,853 -6,521 1.A.b Services 10 -5,374 -766 -565 Credit 11 7,750 1,102 812 Debit 12 -13,123 -1,868 -1,377 1.B Primary Income 13 -2,388 -339 -249 Credit 14 6,985 990 726 Debit 15 -9,373 -1,329 -975 1.C Secondary Income 16 176 25 19 Credit 17 1,219 173 128 Debit 18 -1,042 -148 -109 2. Capital and Financial Account 19 -1,668 -234 -169 2.1 Capital Account 20 -7 -1 -1 Credit 21 4 1 0 Debit 22 -11 -2 -1 2.2 Financial Account 23 -1,661 -233 -169 Assets 24 -13,304 -1,886 -1,384 Liabilities 25 11,643 1,653 1,215 2.2.1 Financial Account Excluding Reserve Assets 26 -2,054 -292 -215 2.2.1.1 Direct Investment 27 1,471 210 155 Assets 28 -3,323 -472 -347 Liabilities 29 4,794 682 502 2.2.1.2 Portfolio Investment 30 -707 -108 -85 Assets 31 -5,266 -751 -555 Liabilities 32 4,559 643 470 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 -642 -91 -67 Assets 34 -497 -71 -52 Liabilities 35 -145 -21 -15 2.2.1.4 Other Investment 36 -2,177 -303 -218 Assets 37 -4,612 -652 -476 Liabilities 38 2,436 348 258 2.2.2 Reserve Assets 39 393 59 46 3. Net Errors and Omissions 40 -3,785 -531 -385 Notes: 1.The statement is compiled according to BPM6. Reserve assets are included incapital and financial accounts. 2."Credit" is presented as positive value while "debit" as negative value, and the balance is the sum of the "Credit" and the "Debit". All items herein refer to balance, unless marked with "Credit" or "Debit". 3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data, using quarterly average central parity rate of RMB against USD. The quarterly accumulated RMB denominated BOP data is derived from the sum total of the RMB denominated data for the quarters. 4.The SDR denominated quarterly BOP data is converted from the USD denominated BOP data, using quarterly average exchange rate of SDR against USD. The quarterly accumulated SDR denominated BOP data is derived from the sum total of the SDR denominated data for the quarters. 5.This statement employs rounded-off numbers. 6.For detailed data, please see “Data and Statistics” at the website of SAFE. 2020-09-25/en/2020/0925/1754.html
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As at the end of June 2020, China recorded RMB 15.0964 trillion in outstanding external debt denominated in both domestic and foreign currencies (equivalent to USD 2.1324 trillion, excluding those of Hong Kong SAR China, Macao SAR China, and Taiwan Province China, the same below). With respect to the term structure, the outstanding medium-and long-term external debt was RMB 6.4352 trillion (USD 909 billion), accounting for 43%; while the outstanding short-term external debt was RMB 8.6612 trillion (USD 1.2234 trillion), taking up 57%, including 39% trade-related credit. In terms of institutions and sectors, the outstanding debt of government totaled RMB 2.088 trillion (USD 294.9 billion), accounting for 14%; the outstanding debt of the central bank totaled RMB 282.5 billion(USD 39.9 billion), accounting for 2%; the outstanding debt of banks totaled RMB 7.0348 trillion (USD 993.7 billion), taking up 46%; the outstanding debt of other sectors (including inter-company lending under direct investments) totaled RMB 5.6911 trillion (USD 803.9 billion), taking up 38%; In terms of debt instruments, the outstanding of loans was RMB 3.3696 trillion (USD 476 billion), accounting for 22%; the outstanding of trade credit and prepayment was RMB 2.2945 trillion (USD 324.1 billion), accounting for 15%; the outstanding of currency and deposits was RMB 3.2072 trillion (USD 453 billion), accounting for 21%; the outstanding of debt securities was RMB 4.0123 trillion (USD 566.7 billion), accounting for 27%; the Special Drawing Rights (SDR) allocation amounted to RMB 67.9 billion (USD 9.6 billion), accounting for 0.5%. The outstanding debt of inter-company lending under direct investments totaled RMB 1.7324 trillion (USD 244.7 billion), accounting for 11.5%; and the outstanding of other debt liabilities was RMB 412.5 billion (USD 58.3 billion), accounting for 3%. With respect to currency structures, the outstanding external debt in domestic currency totaled RMB 5.6899 trillion (USD 803.7 billion), accounting for 38%; the outstanding external debt in foreign currencies (including SDR allocation) totaled RMB 9.4065 trillion (USD 1.3287 trillion), accounting for 62%. In the total outstanding registered external debt in foreign currencies, the USD debt accounted for 84%, the Euro debtaccounted for 7%, the HKD debt accounted for 4%, the JPY debt accounted for 2%, the SDR and other foreign currency-denominated external debt accounted for 3%. China’s major external debt metrics were all within the internationally recognized thresholds, indicating that the external debt risk is controllable on thewhole. For the interpretation of China's outstanding external debt data at the end of June 2020, please refer to the "China's Balance of Payments Report for the First Half of 2020(in Chinese)". Appendix Definition of terms and interpretations External debt classification by term structure. There are two methods to classify the external debt byterm structure. One is on the basis of the contract term,i.e. it is classified as medium- and long-term external debt if the contract term is over one year, and classified as short-term external debt if the contract term is one year or less; the other is on the basis of the remaining term, i.e.,on the basis of the contract term classification method above, the medium- and long-term external debt due within one year is classified as short-term external debt. In this news release, external debt is divided into medium- and long-term external debt and short-term external debt based on the contract term. Trade-related credit is a broad concept. In addition to trade credit and prepayment, it also involves other kinds of credit provided for trade activities. As it is defined,trade-related credit includes trade credit and prepayment, bank trade financing, short-term notes related to trade, and so forth. In particular, trade credit and prepayment refer to external liability arising from directly extending credit between the seller and buyer of goods transactions, specifically transactions between residents in the Chinese Mainland and overseas non-residents (including non-residents in Hong Kong SAR, Macao SAR, and Taiwan Province), i.e., the debt incurred due to the difference between the time of payment and the time of the goods ownership transfer, which include credit directly provided by the supplier (e.g., the overseas exporter) for goods and services, and advance payments made by buyers(e.g., overseas importers) for goods, services, and on-going business (or business to be undertaken). Bank trade financing refers to trade related loans that offered by a third party(e.g., banks) to exporters or importers, for instance, loans extended by foreign financial institutions or export credit agencies to buyers. Annexed table：China’s Gross External Debt Position by Sector, End of June 2020 End of June 2020 End of June 2020 （Unit:100 million RMB） （Unit:100 million US dollars） General Government 20880 2949 Short-term 739 104 Currency and deposits 0 0 Debt securities 739 104 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 0 0 Long-term 20141 2845 Currency and deposits 0 0 Debt securities 0 0 Loans 16913 2389 Trade credit and advances 3228 456 Other debt liabilities 0 0 Currency and deposits 0 0 Central Bank 2825 399 Short-term 1784 252 Currency and deposits 835 118 Debt securities 949 134 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 0 0 Long-term 1041 147 Special drawing rights 680 96 Currency and deposits 0 0 Debt securities 0 0 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 361 51 Other Depository Corporations 70348 9937 Short-term 52188 7372 Currency and deposits 31230 4411 Debt securities 3527 498 Loans 16689 2358 Trade credit and advances 0 0 Other debt liabilities 742 105 Long-term 18160 2565 Currency and deposits 0 0 Debt securities 12516 1768 Loans 5570 787 Trade credit and advances 0 0 Other debt liabilities 74 10 Other Sectors 39587 5592 Short-term 27683 3910 Currency and deposits 7 1 Debt securities 128 18 Loans 3475 491 Trade credit and advances 22541 3184 Other debt liabilities 1532 216 Long-term 11904 1682 Currency and deposits 0 0 Debt securities 5351 756 Loans 4734 669 Trade credit and advances 404 57 Other debt liabilities 1415 200 Direct Investment: Intercompany Lending 17324 2447 Debt liabilities of direct investment enterprises to direct investors 10618 1500 Debt liabilities of direct investors to direct investment enterprises 804 113 Debt liabilities to affiliated enterprises 5902 834 Gross External Debt Position 150964 21324 Notes: 1. The short-term and long-term herein are broken down by contractual (original) maturity. 2. The data in this table have been rounded off. 2020-09-25/en/2020/0925/1753.html
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As at the end of June 2020, China’s external financial assets reached USD 7860.2 billion, external financial liabilities reached USD 5660.5 billion, and net external assets totaled USD 2199.7 billion. In the external financial assets, direct investment assets amounted to USD 2124.7 billion, portfolio investment assets, USD 700.6 billion, financial derivative assets, USD 9.9 billion, other investment assets, USD 1781.7 billion, and reserves assets, USD 3243.3 billion, accounting for 27 percent, 9 percent, 0.1 percent, 23 percent and 41 percent of external financial assets respectively. In external liabilities, direct investment liabilities were USD 2947.2 billion, portfolio investment liabilities, USD 1378.3 billion, financial derivative liabilities, USD 10.7 billion and other investment liabilities, USD 1324.4 billion, accounting for 52 percent, 24 percent, 0.2 percent and 23 percent of the external financial liabilities respectively. In SDR terms, China’s external financial assets and liabilities reached SDR 5713.6 billion and SDR 4114.7 billion respectively, and external net assets totaled SDR 1599 billion at the end of June 2020. (End) China's International Investment Position, End of June 2020 Item Line No. Position in 100 million USD Position in 100 million SDR Net Position 1 21,997 15,990 Assets 2 78,602 57,136 1 Direct Investment 3 21,247 15,444 1.1 Equity and Investment Fund Shares 4 18,023 13,101 1.2 Debt Instruments 5 3,224 2,343 1.a Financial Sectors 6 2,751 2,000 1.1.a Equity and Investment Fund Shares 7 2,664 1,937 1.2.a Debt Instruments 8 87 63 1.b Non-financial Sectors 9 18,496 13,444 1.1.b Equity and Investment Fund Shares 10 15,359 11,164 1.2.b Debt Instruments 11 3,137 2,280 2 Portfolio Investment 12 7,006 5,093 2.1 Equity and Investment Fund Shares 13 4,106 2,984 2.2 Debt Securities 14 2,900 2,108 3 Financial Derivatives (other than reserves) and Employee Stock Options 15 99 72 4 Other Investment 16 17,817 12,951 4.1 Other Equity 17 84 61 4.2 Currency and Deposits 18 4,162 3,026 4.3 Loans 19 7,488 5,443 4.4 Insurance, Pension, and Standardized Guarantee Schemes 20 164 119 4.5 Trade Credit and Advances 21 5,290 3,845 4.6 Others 22 628 457 5 Reserve Assets 23 32,433 23,576 5.1 Monetary Gold 24 1,108 805 5.2 Special Drawing Rights 25 110 80 5.3 Reserve Position in the IMF 26 96 70 5.4 Foreign Exchange Reserves 27 31,123 22,624 5.5 Other Reserve Assets 28 -3 -2 Liabilities 29 56,605 41,147 1 Direct Investment 30 29,472 21,423 1.1 Equity and Investment Fund Shares 31 26,902 19,555 1.2 Debt Instruments 32 2,570 1,868 1.a Financial Sectors 33 1,633 1,187 1.1.a Equity and Investment Fund Shares 34 1,447 1,052 1.2.a Debt Instruments 35 186 135 1.b Non-financial Sectors 36 27,839 20,236 1.1.b Equity and Investment Fund Shares 37 25,455 18,503 1.2.b Debt Instruments 38 2,384 1,733 2 Portfolio Investment 39 13,783 10,019 2.1 Equity and Investment Fund Shares 40 8,471 6,157 2.2 Debt Securities 41 5,312 3,862 3 Financial Derivatives (other than reserves) and Employee Stock Options 42 107 77 4 Other Investment 43 13,244 9,627 4.1 Other Equity 44 0 0 4.2 Currency and Deposits 45 4,545 3,304 4.3 Loans 46 4,827 3,509 4.4 Insurance, Pension, and Standardized Guarantee Schemes 47 147 106 4.5 Trade Credit and Advances 48 3,241 2,356 4.6 Others 49 388 282 4.7 Special Drawing Rights 50 96 70 Notes:1. This table employs rounded-off numbers. 2.Net International Investment Position refers to assets minus liabilities. Positive figure refers to net assets, and negative figure refers to netliabilities. 3.The SDR denominated data is converted from the USD denominated data, using the exchange rate of SDR againstUSD at the end of the quarter. 2020-09-25/en/2020/0925/1755.html
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The State Administration of Foreign Exchange (SAFE) has recently released the data on banks' foreign exchange settlements and sales and banks' foreign-related receipts and payments for customers for August 2020. The SAFE deputy administrator and press spokesperson Wang Chunying answered media questions on foreign exchange receipts and payments for August 2020. Q: Could you brief us on the changes in China's foreign exchange receipts and payments for August 2020? A: The supply and demand of foreign exchange reached a basic equilibrium in August. Firstly, banks’ foreign exchange settlements and sales posted a deficit of US$ 3.8 billion, down by 29% year on year. Given foreign exchange trading of foreign institutions in the inter-bank foreign exchange market and changes in banks’ foreign exchange positions, the supply and demand of the foreign exchange market was generally balanced. Secondly, the cross-border capital of non-banking sectors registered a net inflow of US$ 12.7 billion, marking a recent high. Thirdly, foreign exchange reserves increased steadily, reaching US$ 3.1646 trillion by the end of August, up by US$ 10.2 billion month on month. Cross-border capital flows through major channels continued to present positive changes. First, cross-border receipts and payments under trade in goods registered a rising surplus. In August, the surplus in cross-border receipts and payments under trade in goods grew 1.1 times year on year. Specifically, receipts from trade in goods rose by 2.6%, and payments decreased by 3.1%. Second, the seasonal peak of corporate dividend payout came to an end. In August, the deficit in foreign exchange settlements and sales of income and current transfer decreased by 34% month on month, mainly due to the 39% reduction in foreign exchange purchase with investment income. Third, foreign investments in the domestic bonds market remained high. In August, foreign investors increased their net holdings of domestic bonds by US$ 21 billion, higher than the average historical level. Currently, there are still many destabilizing and uncertain factors in the external environment. However, China’s significant institutional advantages, sound long-term economic prospects, broad market space and strong resilience in development are expected to provide a fundamental support for the stability of China’s foreign exchange market. China will gradually form a new development pattern, featured as domination by domestic cycle and mutual promotion between domestic and international cycle, which will help China’s current account to broadly remain within a reasonable range. Steady progress has been made in the two-way opening-up of financial markets, which is conducive to balance cross-border capital flows. China’s maturing foreign exchange market, the rational and orderly transaction behaviors and the increasing elasticity of renminbi exchange rate will continue to play the role of “automatic stabilizer” in regulating the macro economy and the balance of payments. 2020-09-18/en/2020/0918/1752.html
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官方储备资产 Official reserve assets html xlsx pdf 2021-01-07/en/2020/0507/1761.html
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As at the end of June 2020, China's banking sector recorded external financial assets of USD 1240.7 billion, external liabilities of USD 1367.1 billion, and net external liabilities of USD 126.4 billion including net RMB liabilities of USD 337.3 billion and net foreign currency assets of USD 210.9 billion. Among the external financial assets of the banking sector, deposits and loans were USD 892.2 billion, bonds investment, USD 178.2 billion, and other assets including equity, USD 170.3 billion, accounting for 72 percent, 14 percent and 14 percent of the sector's total external financial assets respectively. By currency, RMB assets were USD 132.5 billion, USD assets were USD 842.1 billion, and other currency assets were USD 266.0 billion, accounting for 11 percent, 68 percent and 21 percent respectively. Among the external financial assets of the banking sector, the amount invested in the overseas banking sector was USD 624.2 billion, accounting for 50 percent; the amount invested in the overseas non-banking sector was USD 616.5 billion, accounting for 50 percent. Among the external liabilities of the banking sector, deposits and loans were USD 777.4 billion, bonds investment, USD 220.3 billion, and other liabilities including equity, USD 369.5 billion, accounting for 57 percent, 16 percent and 27 percent of the sector's total external liabilities respectively. By currency, RMB liabilities were USD 469.8 billion, USD liabilities, USD 548.2 billion, and other currency liabilities, USD 349.1 billion, accounting for 34 percent, 40 percent and 26 percent respectively. Among the external liabilities of China's banking sector, USD 584.9 billion was from overseas banking sector, accounting for 43 percent; while USD 782.2 billion was from overseas non-banking sector, accounting for 57 percent. (End) 2020-09-29/en/2020/0929/1758.html
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External Financial Assets and Liabilities of China's Banking Sector (As of June 30 2020) 2020-09-29/en/2020/0929/1759.html
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According to the statisticsof the State Administration of Foreign Exchange (SAFE), the Chinese foreignexchange market (excluding foreign currency pairs, the same below) recorded totaltransactions of RMB 14.45 trillion (equivalent to USD 2.15 trillion) in October 2020. In terms of markets, thetransactions volume of client market was RMB 2.28 trillion (equivalent to USD 0.34 trillion), and the transactionsvolume of interbank market was RMB 12.17 trillion (equivalent to USD 1.81 trillion). In terms ofproducts, the cumulative transactions volume of the spot market was RMB 5.85 trillion (equivalent to USD0.87 trillion), and that of the derivatives market was RMB 8.61 trillion (equivalent to USD 1.28 trillion). From January to October 2020, a total of RMB 164.74 trillion (equivalent to USD 23.65 trillion) was traded in the Chinese foreignexchange market. 2020-09-25/en/2020/0925/1756.html
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As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in February 2021, the amount of foreign exchange settlement and sales by banks was RMB 1091.6 billion and RMB 910.6 billion, respectively, with a surplus of RMB 181.0 billion. During January to February 2021, the accumulative amount of foreign exchange settlement and sales by banks was RMB 2383.9 billion and RMB 1938.5 billion, respectively, with an accumulative surplus of RMB 445.4 billion. In the US dollar terms, in February 2021, the amount of foreign exchange settlement and sales by banks was USD 169.0 billion and USD 141.0 billion, respectively, with a surplus of USD 28.0 billion. During January to February 2021, the accumulative amount of foreign exchange settlement and sales by banks was USD 368.5 billion and USD 299.7 billion, respectively, with an accumulative surplus of USD 68.8 billion. In February 2021, the amount of cross-border receipts and payments by non-banking sectors was RMB 2411.1 billion and RMB 2196.6 billion, respectively, with a surplus of RMB 214.5 billion. During January to February 2021, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 5606.3 billion and RMB 5075.4 billion, respectively, with an accumulative surplus of RMB 530.9 billion. In the US dollar terms, in February 2021, the amount of cross-border receipts and payments by non-banking sectors was USD 373.2 billion and USD 340.0 billion, respectively, with a surplus of USD 33.2 billion. During January to February 2021, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 866.5 billion and USD 784.5 billion, respectively, with an accumulative surplus of USD 82.0 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 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 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 net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client. 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. 2021-03-19/en/2021/0319/1810.html
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The State Administration of Foreign Exchange (SAFE) has recently released the data on foreign exchange settlement and sales by banks and cross-border receipts and payments by non-banking sectors for January 2021. The SAFE deputy administrator and press spokesperson Wang Chunying answered media questions on foreign exchange receipts and payments for January 2021. Q: Could you brief us on the situations of China’s foreign exchange receipts and payments in January 2021? A: China's foreign exchange market stayed generally stable in January. Seen from major indicators, foreign exchange settlement and sales by banks registered a surplus of US$40.8 billion, down 39% month on month, while non-banking sectors recorded a surplus of US$48.8 billion in cross-border receipts and payments with a decline of 10%. The surpluses in the above indicators are mainly attributed to seasonal factors. As China’s goods exports and surplus are generally high by the yearend, and fund demand of enterprises is stronger before the Spring Festival, foreign exchange receipts and settlement under trade are put together. In January, foreign exchange settlement and sales and cross-border receipts and payments under trade in goods posted surpluses of over US$40 billion each, and were the major contributors to the surplus. With stable expectations, market players were rational in foreign exchange settlement and sales. In January, the settlement ratio that measures enterprises' willingness to settle their foreign exchange, which is the ratio of foreign exchange customers sold to banks to their receipts of foreign exchange from foreign-related transactions, was 65%, down by six percentage points month on month. The foreign exchange sales ratio that measures the willingness to buy foreign exchange, which is the ratio of foreign exchange purchased by customers from banks to the customers' cross-border foreign exchange payments was 62%, up by two percentage points. Cross-border investments were active in both directions. The cross-border receipts and payments under the capital account stayed high in both directions, maintaining a general equilibrium. The cross-border receipts and payments under direct investment maintained net inflows. Portfolio investment registered a net outflow on the whole. Net holdings of onshore bonds and stocks by foreign investors increased by US$41.6 billion, while domestic players increased US$40.1 billion worth of Hong Kong shares through southbound trading. Generally, supported by the fundamentals of China’s stable and sustained economic recovery and the two-way opening-up of the financial market, China’s two-way cross-border capital flows have become more active, which is conducive to further enhancing the depth and width of the foreign exchange market. Looking ahead, the external environment is expected to remain intricate and complex, and there will still be a number of unstable and uncertain factors in the process of world economic recovery. Nevertheless, amid China’s efforts to build a new system for an open economy at a higher level, the foundation for sound and sustained economic growth remains unchanged, and the foreign exchange market is expected to run smoothly. 2021-02-20/en/2021/0220/1808.html