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SAFE News
  • Index number:
    000014453-2023-0025
  • Dispatch date:
    2023-03-31
  • Publish organization:
    State Administration of Foreign Exchange
  • Exchange Reference number:
  • Name:
    SAFE Releases China's Balance of Payments for the Fourth Quarter and for the Year 2022
SAFE Releases China's Balance of Payments for the Fourth Quarter and for the Year 2022

In the fourth quarter of 2022, China's current account registered a surplus of RMB 732.7 billion, and the capital and financial accounts recorded a deficit of RMB 602.2 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 300.8 billion, and reserve assets increased by RMB 301.5 billion.

In 2022, China's current account registered a surplus of RMB 2717.7 billion, and the capital and financial accounts recorded a deficit of RMB 2116.4 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 1429.4 billion, and reserve assets increased by RMB 685.0 billion.

In the US dollar terms, in the fourth quarter, China's current account recorded a surplus of USD 103.1 billion, including a surplus of USD 161.3 billion under trade in goods, a deficit of USD 30.6 billion under trade in services, a deficit of USD 30.4 billion under primary income and a surplus of USD 2.7 billion under secondary income. The capital and financial accounts registered a deficit of USD 84.2 billion, including a surplus of USD 21.6 million under the capital account, and a deficit of USD 41.9 billion under the financial account (excluding reserve assets), and reserve assets increased by USD 42.3 billion.

In the US dollar terms, in 2022, China's current account recorded a surplus of USD 401.9 billion, including a surplus of USD 668.6 billion under trade in goods, a deficit of USD 92.3 billion under trade in services, a deficit of USD 193.6 billion under primary income and a surplus of USD 19.1 billion under secondary income. The capital and financial accounts recorded a deficit of USD 311.3 billion, including a deficit of USD 309.9 million under the capital account, a deficit of USD 211.0 billion under the financial account (excluding reserve assets), and reserve assets increased by USD 100.0 billion.

In SDR terms, in the fourth quarter, China posted a surplus of SDR 79.1 billion under the current account, and a deficit of SDR 65.2 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 32.6 billion, and reserve assets increased by SDR 32.5 billion.

In SDR terms, in 2022, China posted a surplus of SDR 301.7 billion under the current account, and a deficit of SDR 235.3 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a surplus of SDR 159.7 billion, and reserve assets increased by SDR 75.4 billion.

The SAFE has revised the BOP data for each quarter since 2021 according to the latest data, which can be found in the section of "Data and Statistics" at the official website of the SAFE.

In addition, in order to facilitate understanding of the data of Balance of Payments and International Investment Position among all data users, the BOP Analysis Team of the SAFE released China's Balance of Payments Report 2022. (End)


Abridged Balance of Payments, Q4 2022

Item

Line No.

RMB 100 million

USD 100 million

SDR 100 million

1. Current Account

1

7327

1031

791

Credit

2

69516

9782

7501

Debit

3

-62188

-8750

-6710

1. A Goods and Services

4

9301

1308

1004

Credit

5

65099

9160

7024

Debit

6

-55798

-7852

-6020

1.A.a Goods

7

11469

1613

1238

Credit

8

59076

8312

6374

Debit

9

-47607

-6698

-5137

1.A.b Services

10

-2168

-306

-234

Credit

11

6023

848

650

Debit

12

-8190

-1154

-884

1.B Primary Income

13

-2168

-304

-234

Credit

14

3843

541

415

Debit

15

-6010

-845

-649

1.C Secondary Income

16

194

27

21

Credit

17

574

81

62

Debit

18

-380

-54

-41

2. Capital and Financial Account

19

-6022

-842

-652

2.1 Capital Account

20

2

0.2

0

Credit

21

4

1

0

Debit

22

-3

0

0

2.2 Financial Account

23

-6023

-842

-652

Assets

24

-5786

-810

-625

Liabilities

25

-237

-32

-27

2.2.1 Financial Account Excluding Reserve Assets

26

-3008

-419

-326

2.2.1.1 Direct Investment

27

-1171

-165

-126

Assets

28

-3139

-442

-339

Liabilities

29

1968

277

213

2.2.1.2 Portfolio Investment

30

-1430

-193

-155

Assets

31

-1536

-213

-166

Liabilities

32

106

20

11

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

33

266

38

28

Assets

34

349

49

37

Liabilities

35

-83

-12

-9

2.2.1.4 Other Investment

36

-673

-99

-74

Assets

37

1555

218

168

Liabilities

38

-2228

-317

-242

2.2.2 Reserve Assets

39

-3015

-423

-325

3. Net Errors and Omissions

40

-1306

-189

-139

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 difference is the sum of the "Credit" and the "Debit". All items herein refer to difference, unless marked with "Credit" or"Debit".

3. The RMB denominated quarterly BOP data is converted from the USD denominated BOP data for the quarter using the period 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 for the quarter using the period 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 the section of Data and Statisticsat the website of the SAFE.

7. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.

 


Abridged Balance of Payments, 2022

Item

Line No.

RMB 100 million

USD 100 million

SDR 100 million

1. Current Account

1

27177

4019

3017

Credit

2

266099

39508

29560

Debit

3

-238922

-35489

-26543

1. A Goods and Services

4

38850

5763

4317

Credit

5

250235

37158

27799

Debit

6

-211385

-31395

-23482

1.A.a Goods

7

45140

6686

5013

Credit

8

225467

33469

25045

Debit

9

-180327

-26782

-20032

1.A.b Services

10

-6290

-923

-695

Credit

11

24767

3690

2754

Debit

12

-31057

-4613

-3450

1.B Primary Income

13

-12957

-1936

-1443

Credit

14

12867

1902

1427

Debit

15

-25823

-3839

-2871

1.C Secondary Income

16

1284

191

143

Credit

17

2997

447

334

Debit

18

-1713

-256

-191

2. Capital and Financial Account

19

-21164

-3113

-2353

2.1 Capital Account

20

-20

-3

-2

Credit

21

16

2

2

Debit

22

-36

-5

-4

2.2 Financial Account

23

-21143

-3110

-2351

Assets

24

-19005

-2815

-2105

Liabilities

25

-2138

-294

-246

2.2.1 Financial Account Excluding Reserve Assets

26

-14294

-2110

-1597

2.2.1.1 Direct Investment

27

1707

305

202

Assets

28

-10116

-1497

-1121

Liabilities

29

11823

1802

1323

2.2.1.2 Portfolio Investment

30

-18783

-2811

-2104

Assets

31

-11637

-1732

-1298

Liabilities

32

-7146

-1079

-806

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

33

-358

-58

-42

Assets

34

210

27

22

Liabilities

35

-567

-85

-63

2.2.1.4 Other Investment

36

3140

454

347

Assets

37

9388

1386

1047

Liabilities

38

-6248

-932

-699

2.2.2 Reserve Assets

39

-6850

-1000

-754

3. Net Errors and Omissions

40

-6013

-906

-664

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 difference is the sum of the "Credit" and the "Debit". All items herein refer to difference, unless marked with "Credit" or "Debit".

3. The RMB denominated quarterly BOP data is converted from the USD denominated BOP data for the quarter using the period 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 for the quarter using the period 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 the section of Data and Statisticsat the website of the SAFE.

7. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.

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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