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SAFE News
  • Index number:
    000014453-2019-0300
  • Dispatch date:
    2019-09-27
  • Publish organization:
    State Administration of Foreign Exchange
  • Exchange Reference number:
  • Name:
    SAFE Releases China's Balance of Payments for the Second Quarter and the First Half of 2019
SAFE Releases China's Balance of Payments for the Second Quarter and the First Half of 2019

In the second quarter of 2019, China's current account registered a surplus of RMB 314.6 billion, and the capital and financial accounts recorded a surplus of RMB 145.6 billion.The financial account (excluding reserve assets) recorded a surplus of RMB 94.1 billion, and reserve assets declined by RMB 51.9 billion.

In the first half of 2019, China's current account registered a surplus of RMB 598.4 billion, and the capital and financial accounts recorded a surplus of RMB 291.2 billion. The financial account (excluding reserve assets) recorded a surplus of RMB 307.5 billion, and reserve assets rose by RMB15.7 billion.

In the US dollar terms, in the second quarter of 2019, China's current account recorded a surplus of USD 46.2 billion, including a surplus of USD 120.6 billion under trade in goods, a deficit of USD 65.8 billion under trade in services, a deficit of USD 11.9 billion under primary income, and a surplus of USD 3.3 billion under secondary income. The capital and financial accounts recorded a surplus of USD 21.4 billion, including a deficit of USD 60 million under the capital account, a surplus of USD 13.8 billion under the financial account (excluding reserve assets), and a decline of USD 7.6 billion under reserves assets.

In the US dollar terms, in the first half of 2019, China's current account recorded a surplus of USD 88.2 billion, including a surplus of USD 208.4 billion under trade in goods, a deficit of USD 129.3 billion under trade in services, a surplus of USD 3.7 billion under primary income, and a surplus of USD 5.4 billion under secondary income. The capital and financial accounts recorded a surplus of USD 43.0 billion, including a deficit of USD 0.1 billion under the capital account, a surplus of USD 45.4billion under the financial account (excluding reserve assets), and an increase of USD 2.4 billion under reserves assets.

In SDR terms, in the second quarter of 2019,China posted a surplus of SDR 33.3 billion under the current account, and a surplus of SDR 15.4 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a surplus of SDR 10 billion, and reserves assets decreased by SDR 5.5 billion.

In SDR terms, in the first half of 2019,China posted a surplus of SDR 63.6 billion under the current account, and a surplus of SDR 30.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a surplus of SDR 32.7 billion, and an increase of SDR 1.7 billion under reserves assets.

In addition, to facilitate understanding of China’s Balance of Payments and International Investment Position among all users, the BOP Analysis Team of SAFE released China’s Balance of Payments Report for the First Half of 2019in Chinese. (End)


Abridged Balanceof Payments of China, Second Quarter of 2019

Item

Line No.

RMB 100 million

USD 100 million

SDR 100 million

1. Current Account

1

3,146

462

333

Credit

2

50,246

7,374

5,325

Debit

3

-47,101

-6,913

-4,992

1. A Goods and Services

4

3,733

548

396

Credit

5

45,563

6,687

4,829

Debit

6

-41,830

-6,139

-4,433

1.A.a Goods

7

8,218

1,206

871

Credit

8

41,532

6,095

4,402

Debit

9

-33,314

-4,889

-3,531

1.A.b Services

10

-4,486

-658

-475

Credit

11

4,031

592

427

Debit

12

-8,516

-1,250

-903

1.B Primary Income

13

-810

-119

-86

Credit

14

4,215

619

447

Debit

15

-5,026

-738

-533

1.C Secondary Income

16

223

33

24

Credit

17

468

69

50

Debit

18

-245

-36

-26

2. Capital and Financial Account

19

1,456

214

154

2.1 Capital Account

20

-4

-1

0

Credit

21

2

0

0

Debit

22

-6

-1

-1

2.2 Financial Account

23

1,460

214

155

Assets

24

-2,914

-428

-309

Liabilities

25

4,374

642

464

2.2.1 Financial Account Excluding Reserve Assets

26

941

138

100

2.2.1.1 Direct Investment

27

587

86

62

Assets

28

-1,750

-257

-186

Liabilities

29

2,337

343

248

2.2.1.2 Portfolio Investment

30

244

36

26

Assets

31

-1,555

-228

-165

Liabilities

32

1,799

264

191

2.2.1.3 Financial Derivatives (other than reserves) and Employee  Stock Options

33

66

10

7

Assets

34

169

25

18

Liabilities

35

-103

-15

-11

2.2.1.4 Other Investment

36

45

7

5

Assets

37

-296

-43

-31

Liabilities

38

341

50

36

2.2.2 Reserve Assets

39

519

76

55

3. Net Errors and Omissions

40

-4,601

-675

-488

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 SDRdenominated BOP data is derived from the sum total of the SDR denominated data for the quarters.

5.This statement employs rounded-off numbers.

6.For detailed data, please see Data and Statistics at the website of SAFE.


Abridged China’s Balance of Payments, First Half of 2019

Item

Line No.

RMB 100 million

USD 100 million

SDR 100 million

1. Current Account

1

5,984

882

636

Credit

2

95,651

14,104

10,158

Debit

3

-89,666

-13,222

-9,523

1. A Goods and Services

4

5,372

791

570

Credit

5

86,034

12,686

9,137

Debit

6

-80,663

-11,895

-8,567

1.A.a Goods

7

14,138

2,084

1,501

Credit

8

77,994

11,500

8,283

Debit

9

-63,856

-9,416

-6,782

1.A.b Services

10

-8,766

-1,293

-931

Credit

11

8,040

1,186

854

Debit

12

-16,806

-2,479

-1,785

1.B Primary Income

13

244

37

26

Credit

14

8,740

1,289

928

Debit

15

-8,496

-1,252

-902

1.C Secondary Income

16

369

54

39

Credit

17

877

129

93

Debit

18

-508

-75

-54

2. Capital and Financial Account

19

2,912

430

309

2.1 Capital Account

20

-6

-1

-1

Credit

21

8

1

1

Debit

22

-14

-2

-1

2.2 Financial Account

23

2,918

430

310

Assets

24

-5,152

-759

-547

Liabilities

25

8,070

1,190

857

2.2.1 Financial Account Excluding Reserve Assets

26

3,075

454

327

2.2.1.1 Direct Investment

27

2,378

352

253

Assets

28

-3,170

-467

-337

Liabilities

29

5,548

819

589

2.2.1.2 Portfolio Investment

30

1,557

230

166

Assets

31

-2,647

-390

-281

Liabilities

32

4,205

621

447

2.2.1.3 Financial Derivatives (other than reserves) and Employee  Stock Options

33

4

1

0

Assets

34

116

17

12

Liabilities

35

-112

-16

-12

2.2.1.4 Other Investment

36

-864

-128

-92

Assets

37

706

105

75

Liabilities

38

-1,570

-233

-167

2.2.2 Reserve Assets

39

-157

-24

-17

3. Net Errors and Omissions

40

-8,896

-1,312

-945

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.

The English translation may only be used as a reference. In case a different interpretation of the translated information contained in this website arises, the original Chinese shall prevail.

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