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SAFE News
  • Index number:
    000014453-2020-0063
  • Dispatch date:
    2020-05-08
  • Publish organization:
    State Administration of Foreign Exchange
  • Exchange Reference number:
  • Name:
    SAFE Releases Preliminary Data of the Balance of Payments for the First Quarter of 2020
SAFE Releases Preliminary Data of the Balance of Payments for the First Quarter of 2020

In the first quarter of 2020, China's current account registered a deficit of RMB 207.6 billion, including a surplus of RMB 184.5 billion under trade in goods, a deficit of RMB 328.1 billion under trade in services, a deficit of RMB 68.1 billion under primary income and a surplus of RMB 4.1 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a surplus of RMB 207.6 billion, in which foreign direct investment recorded a surplus of RMB 104.3 billion, and reserve assets decreased by RMB 175.4 billion.

In the US dollar terms, in the first quarter of 2020, China's current account registered a deficit of USD 29.7 billion, including a surplus of USD 26.4 billion under trade in goods, a deficit of USD 47.0 billion under trade in services, a deficit of USD 9.8 billion under primary income and a surplus of USD 600 million under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a surplus of USD 29.7 billion, in which foreign direct investment recorded a surplus of USD 14.9 billion, and reserve assets decreased by USD 25.1 billion.

In SDR terms, in the first quarter of 2020, China's current account registered a deficit of SDR 22.1 billion, including a surplus of SDR 19.6 billion under trade in goods, a deficit of SDR 34.9 billion under trade in services, a deficit of SDR 7.2 billion under primary income and a surplus of SDR 400 million under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a surplus of SDR 22.1 billion, in which foreign direct investment recorded a surplus of SDR 11.1 billion, and reserve assets decreased by SDR 18.7 billion. (End)


China's Balance of Payments (Preliminary Data)

Unit:RMB 100 million                         

Item

Line  No.

Q1 2020

1. Current account

1

-2,076

Credit

2

38,943

Debit

3

-41,019

1.  A Goods and Services

4

-1,436

Credit

5

36,495

Debit

6

-37,931

1.A.a  Goods

7

1,845

Credit

8

32,695

Debit

9

-30,850

1.A.b  Services

10

-3,281

Credit

11

3,800

Debit

12

-7,080

1.A.b.1 Processing services

13

232

Credit

14

241

Debit

15

-8

1.A.b.2 Maintenance and Repair  Services

16

93

Credit

17

135

Debit

18

-43

1.A.b.3 Transport

19

-816

Credit

20

718

Debit

21

-1,534

1.A.b.4 Travel

22

-2,901

Credit

23

321

Debit

24

-3,221

1.A.b.5 Construction

25

16

Credit

26

168

Debit

27

-152

1.A.b.6 Insurance and Pension Services

28

-81

Credit

29

69

Debit

30

-150

1.A.b.7 Financial Services

31

31

Credit

32

68

Debit

33

-37

1.A.b.8 Charges for the Use of Intellectual  Property

34

-347

Credit

35

162

Debit

36

-509

1.A.b.9 Telecommunications, Computer,  and Information Services

37

30

Credit

38

592

Debit

39

-562

1.A.b.10 Other Business Services

40

537

Credit

41

1,275

Debit

42

-739

1.A.b.11 Personal, Cultural, and  Recreational Services

43

-33

Credit

44

15

Debit

45

-48

1.A.b.12 Government Goods and Services  n.i.e

46

-43

Credit

47

35

Debit

48

-78

1.B  Primary Income

49

-681

Credit

50

1,883

Debit

51

-2,564

1.C  Secondary Income

52

41

Credit

53

566

Debit

54

-525

2. Capital and Financial Accounts  (Including Net Errors and Omissions for the Quarter)

55

2,076

2.1  Capital Account

56

-6

Credit

57

1

Debit

58

-8

2.2.  Financial Account (Including Net Errors and Omissions for the Quarter)

59

2,083

2.2.1  Financial Account (Excluding Reserve Assets, But Including Net Errors and  Omissions for the Quarter)

60

328

Including: 2.2.1.1 Direct Investment

61

1,043

2.2.1.1.1 Assets

62

-1,302

2.2.1.1.2 Liabilities

63

2,345

2.2.2  Reserve Assets

64

1,754

2.2.2.1 Monetary gold

65

0

2.2.2.2 Special drawing rights

66

-3

2.2.2.3 Reserve position in the IMF

67

18

2.2.2.4 Foreign exchange reserves

68

1,738

2.2.2.5 Other reserves

69

0

3. Net Errors and Omissions

70

/

Note: 1. The table is compiled according to BPM6.

         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 balances, unless marked with "Credit" or "Debit".

      3. The RMB denominated BOP statement is converted from the USD denominated BOP statement for the quarter using the quarterly average central parity rate of RMB against USD.

        4.Since net errors and omissions are included, the amount of the capital and financial accounts is the opposite number of the difference in the current account.

        5.This table employs rounded-off numbers.


China's Balance of Payments (Preliminary Data)

Unit: USD100 million                          

Item

Line No.

Q1 2020

1. Current account

1

-297

Credit

2

5,580

Debit

3

-5,877

1.  A Goods and Services

4

-206

Credit

5

5,229

Debit

6

-5,435

1.A.a  Goods

7

264

Credit

8

4,685

Debit

9

-4,420

1.A.b  Services

10

-470

Credit

11

544

Debit

12

-1,015

1.A.b.1 Processing services

13

33

Credit

14

34

Debit

15

-1

1.A.b.2 Maintenance and Repair  Services

16

13

Credit

17

19

Debit

18

-6

1.A.b.3 Transport

19

-117

Credit

20

103

Debit

21

-220

1.A.b.4 Travel

22

-416

Credit

23

46

Debit

24

-462

1.A.b.5 Construction

25

2

Credit

26

24

Debit

27

-22

1.A.b.6 Insurance and Pension Services

28

-12

Credit

29

10

Debit

30

-22

1.A.b.7 Financial Services

31

4

Credit

32

10

Debit

33

-5

1.A.b.8 Charges for the Use of  Intellectual Property

34

-50

Credit

35

23

Debit

36

-73

1.A.b.9 Telecommunications, Computer,  and Information Services

37

4

Credit

38

85

Debit

39

-81

1.A.b.10 Other Business Services

40

77

Credit

41

183

Debit

42

-106

1.A.b.11 Personal, Cultural, and  Recreational Services

43

-5

Credit

44

2

Debit

45

-7

1.A.b.12 Government Goods and Services  n.i.e

46

-6

Credit

47

5

Debit

48

-11

1.B  Primary Income

49

-98

Credit

50

270

Debit

51

-367

1.C  Secondary Income

52

6

Credit

53

81

Debit

54

-75

2. Capital and Financial Accounts  (Including Net Errors and Omissions for the Quarter)

55

297

2.1  Capital Account

56

-1

Credit

57

0

Debit

58

-1

2.2.  Financial Account (Including Net Errors and Omissions for the Quarter)

59

298

2.2.1  Financial Account (Excluding Reserve Assets, But Including Net Errors and  Omissions for the Quarter)

60

47

Including: 2.2.1.1 Direct Investment

61

149

2.2.1.1.1 Assets

62

-187

2.2.1.1.2 Liabilities

63

336

2.2.2  Reserve Assets

64

251

2.2.2.1 Monetary gold

65

0

2.2.2.2 Special drawing rights

66

0

2.2.2.3 Reserve position in the IMF

67

3

2.2.2.4 Foreign exchange reserves

68

249

2.2.2.5 Other reserves

69

0

3. Net Errors and Omissions

70

/

Note:1. The table is compiled according to BPM6.

         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 balances, unless marked with "Credit" or "Debit".

         3.Since net errors and omissions are included, the amount of the capital and financial accounts is the opposite number of the difference in the current account.

         4.This table employs rounded-off numbers.


China's Balance of Payments (Preliminary Data)

Unit: SDR 100 million                    

Item

Line No.

Q1 2020

1. Current account

1

-221

Credit

2

4,144

Debit

3

-4,365

1.  A Goods and Services

4

-153

Credit

5

3,883

Debit

6

-4,036

1.A.a  Goods

7

196

Credit

8

3,479

Debit

9

-3,283

1.A.b  Services

10

-349

Credit

11

404

Debit

12

-753

1.A.b.1 Processing services

13

25

Credit

14

26

Debit

15

-1

1.A.b.2 Maintenance and Repair  Services

16

10

Credit

17

14

Debit

18

-5

1.A.b.3 Transport

19

-87

Credit

20

76

Debit

21

-163

1.A.b.4 Travel

22

-309

Credit

23

34

Debit

24

-343

1.A.b.5 Construction

25

2

Credit

26

18

Debit

27

-16

1.A.b.6 Insurance and Pension Services

28

-9

Credit

29

7

Debit

30

-16

1.A.b.7 Financial Services

31

3

Credit

32

7

Debit

33

-4

1.A.b.8 Charges for the Use of  Intellectual Property

34

-37

Credit

35

17

Debit

36

-54

1.A.b.9 Telecommunications, Computer,  and Information Services

37

3

Credit

38

63

Debit

39

-60

1.A.b.10 Other Business Services

40

57

Credit

41

136

Debit

42

-79

1.A.b.11 Personal, Cultural, and  Recreational Services

43

-3

Credit

44

2

Debit

45

-5

1.A.b.12 Government Goods and Services  n.i.e

46

-5

Credit

47

4

Debit

48

-8

1.B  Primary Income

49

-72

Credit

50

200

Debit

51

-273

1.C  Secondary Income

52

4

Credit

53

60

Debit

54

-56

2. Capital and Financial Accounts  (Including Net Errors and Omissions for the Quarter)

55

221

2.1  Capital Account

56

-1

Credit

57

0

Debit

58

-1

2.2.  Financial Account (Including Net Errors and Omissions for the Quarter)

59

222

2.2.1  Financial Account (Excluding Reserve Assets, But Including Net Errors and  Omissions for the Quarter)

60

35

Including: 2.2.1.1 Direct Investment

61

111

2.2.1.1.1 Assets

62

-139

2.2.1.1.2 Liabilities

63

250

2.2.2  Reserve Assets

64

187

2.2.2.1 Monetary gold

65

0

2.2.2.2 Special drawing rights

66

0

2.2.2.3 Reserve position in the IMF

67

2

2.2.2.4 Foreign exchange reserves

68

185

2.2.2.5 Other reserves

69

0

3. Net Errors and Omissions

70

/

Notes:1. The table is compiled according to BPM6.

          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 balances, unless marked with "Credit" or "Debit".

          3.The SDR denominated quarterly BOP statement is converted from the USD denominated BOPstatement for the quarter using the quarterly average exchange rate of SDR against USD.

          4.Since net errors and omissions are included, the amount of the capital and financial accounts is the opposite number of the difference in the current account.

          5.This table employs rounded-off numbers.

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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