In the fourth quarter of 2023, China's current account registered a surplus of RMB 398.3 billion, including a surplus of RMB 1108.8 billion under trade in goods, a deficit of RMB 440.2 billion under trade in services, a deficit of RMB 301.9 billion under primary income, and a surplus of RMB 31.6 billion under secondary income. In the capital and financial accounts, reserve assets increased by RMB 87.4 billion.
In 2023, China's current account registered a surplus of RMB 1861.1 billion, including a surplus of RMB 4311.5 billion under trade in goods, a deficit of RMB1629.4 billion under trade in services, a deficit of RMB 928.5 billion under primary income, and a surplus of RMB 107.4 billion under secondary income. In the capital and financial accounts, reserve assets increased by RMB 101.5 billion.
In the US dollar terms, in the fourth quarter of 2023, China's current account recorded a surplus of USD 55.2 billion, including a surplus of USD 153.6 billion under trade in goods, a deficit of USD 61.0 billion under trade in services, a deficit of USD 41.8 billion under primary income, and a surplus of USD 4.4 billion under secondary income. In the capital and financial accounts, reserve assets increased by USD 12.1 billion.
In the US dollar terms, in 2023, China's current account recorded a surplus of USD 264.2 billion, including a surplus of USD 608.0 billion under trade in goods, a deficit of USD 229.4 billion under trade in services, a deficit of USD 129.6 billion under primary income, and a surplus of USD 15.2 billion under secondary income. In the capital and financial accounts, reserve assets increased by USD 15.6 billion.
In SDR terms, in the fourth quarter of 2023, China posted a surplus of SDR 41.7 billion under the current account, including a surplus of SDR 116.1 billion under trade in goods, a deficit of SDR 46.1 billion under trade in services. In the capital and financial accounts, reserve assets increased by SDR 9.1 billion.
In SDR terms, in 2023, China posted a surplus of SDR 197.7 billion under the current account, including a surplus of SDR 455.7 billion under trade in goods, a deficit of SDR172.1 billion under trade in services. In the capital and financial accounts, reserve assets increased by SDR 12.0 billion. (End)
China's Balance of Payments (Preliminary Data)
Unit:RMB 100 million
Item | Line No. | 2023 Q4 | 2023 |
1. Current account | 1 | 3983 | 18611 |
Credit | 2 | 71330 | 267945 |
Debit | 3 | -67348 | -249334 |
1. A Goods and Services | 4 | 6686 | 26821 |
Credit | 5 | 67008 | 248279 |
Debit | 6 | -60322 | -221458 |
1.A.a Goods | 7 | 11088 | 43115 |
Credit | 8 | 60895 | 225406 |
Debit | 9 | -49807 | -182291 |
1.A.b Services | 10 | -4402 | -16294 |
Credit | 11 | 6113 | 22873 |
Debit | 12 | -10515 | -39167 |
1.A.b.1 Processing services | 13 | 231 | 853 |
Credit | 14 | 253 | 917 |
Debit | 15 | -22 | -64 |
1.A.b.2 Maintenance and Repair Services | 16 | 81 | 291 |
Credit | 17 | 203 | 709 |
Debit | 18 | -122 | -418 |
1.A.b.3 Transport | 19 | -1606 | -6089 |
Credit | 20 | 1572 | 6163 |
Debit | 21 | -3178 | -12252 |
1.A.b.4 Travel | 22 | -3629 | -12804 |
Credit | 23 | 425 | 1130 |
Debit | 24 | -4054 | -13934 |
1.A.b.5 Construction | 25 | 239 | 567 |
Credit | 26 | 391 | 1122 |
Debit | 27 | -152 | -555 |
1.A.b.6 Insurance and Pension Services | 28 | -184 | -665 |
Credit | 29 | 41 | 483 |
Debit | 30 | -224 | -1148 |
1.A.b.7 Financial Services | 31 | 6 | 45 |
Credit | 32 | 73 | 308 |
Debit | 33 | -67 | -262 |
1.A.b.8 Charges for the Use of Intellectual Property | 34 | -584 | -2248 |
Credit | 35 | 169 | 774 |
Debit | 36 | -752 | -3022 |
1.A.b.9 Telecommunications, Computer, and Information Services | 37 | 448 | 1369 |
Credit | 38 | 1066 | 4109 |
Debit | 39 | -619 | -2740 |
1.A.b.10 Other Business Services | 40 | 664 | 2680 |
Credit | 41 | 1863 | 6954 |
Debit | 42 | -1198 | -4274 |
1.A.b.11 Personal, Cultural, and Recreational Services | 43 | -72 | -187 |
Credit | 44 | 28 | 99 |
Debit | 45 | -100 | -286 |
1.A.b.12 Government Goods and Services n.i.e | 46 | 2 | -106 |
Credit | 47 | 31 | 106 |
Debit | 48 | -28 | -212 |
1.B Primary Income | 49 | -3019 | -9285 |
Credit | 50 | 3625 | 17009 |
Debit | 51 | -6644 | -26294 |
1.C Secondary Income | 52 | 316 | 1074 |
Credit | 53 | 697 | 2656 |
Debit | 54 | -381 | -1582 |
2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) | 55 | -3983 | -17259 |
2.1 Capital Account | 56 | -6 | -22 |
Credit | 57 | 3 | 13 |
Debit | 58 | -9 | -35 |
2.2. Financial Account (Including Net Errors and Omissions for the Quarter) | 59 | -3977 | -17238 |
2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) | 60 | -3103 | -16223 |
Including: 2.2.1.1 Direct Investment | 61 | -1881 | -10881 |
2.2.1.1.1 Assets | 62 | -3126 | -13151 |
2.2.1.1.1.1 Equity and investment fund shares | 63 | -1913 | -7853 |
2.2.1.1.1.2 Debt instruments | 64 | -1213 | -5297 |
2.2.1.1.2 Liabilities | 65 | 1245 | 2269 |
2.2.1.1.2.1 Equity and investment fund shares | 66 | 1674 | 4357 |
2.2.1.1.2.2 Debt instruments | 67 | -429 | -2088 |
2.2.2 Reserve Assets | 68 | -874 | -1015 |
2.2.2.1 Monetary gold | 69 | 0 | -792 |
2.2.2.2 Special drawing rights | 70 | -65 | -145 |
2.2.2.3 Reserve position in the IMF | 71 | -7 | 82 |
2.2.2.4 Foreign exchange reserves | 72 | -802 | -160 |
2.2.2.5 Other reserves | 73 | 0 | 0 |
3. Net Errors and Omissions | 74 | / | -1351 |
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 period average central parity rate of RMB against USD.
4.Thepreliminary amount for 2023 is the sum of the official amounts of the BOP for the first three quarters of 2023 and the preliminary amount for 2023Q4.
5.From 2023Q4, "equity and investment fund shares" and "deb tinstruments" of direct investment assets and liabilities are released in preliminary data.
6.Thistable employs rounded-off numbers.
China's Balance of Payments (Preliminary Data)
Unit: USD 100 million
Item | Line No. | 2023 Q4 | 2023 |
1. Current account | 1 | 552 | 2642 |
Credit | 2 | 9877 | 37803 |
Debit | 3 | -9325 | -35161 |
1. A Goods and Services | 4 | 926 | 3786 |
Credit | 5 | 9279 | 35027 |
Debit | 6 | -8352 | -31242 |
1.A.a Goods | 7 | 1536 | 6080 |
Credit | 8 | 8432 | 31796 |
Debit | 9 | -6895 | -25716 |
1.A.b Services | 10 | -610 | -2294 |
Credit | 11 | 847 | 3232 |
Debit | 12 | -1457 | -5526 |
1.A.b.1 Processing services | 13 | 32 | 120 |
Credit | 14 | 35 | 129 |
Debit | 15 | -3 | -9 |
1.A.b.2 Maintenance and Repair Services | 16 | 11 | 41 |
Credit | 17 | 28 | 100 |
Debit | 18 | -17 | -59 |
1.A.b.3 Transport | 19 | -222 | -859 |
Credit | 20 | 218 | 871 |
Debit | 21 | -440 | -1729 |
1.A.b.4 Travel | 22 | -503 | -1806 |
Credit | 23 | 59 | 159 |
Debit | 24 | -562 | -1965 |
1.A.b.5 Construction | 25 | 33 | 80 |
Credit | 26 | 54 | 158 |
Debit | 27 | -21 | -78 |
1.A.b.6 Insurance and Pension Services | 28 | -25 | -92 |
Credit | 29 | 6 | 69 |
Debit | 30 | -31 | -162 |
1.A.b.7 Financial Services | 31 | 1 | 6 |
Credit | 32 | 10 | 44 |
Debit | 33 | -9 | -37 |
1.A.b.8 Charges for the Use of Intellectual Property | 34 | -81 | -317 |
Credit | 35 | 23 | 110 |
Debit | 36 | -104 | -427 |
1.A.b.9 Telecommunications, Computer, and Information Services | 37 | 62 | 192 |
Credit | 38 | 148 | 581 |
Debit | 39 | -86 | -388 |
1.A.b.10 Other Business Services | 40 | 92 | 380 |
Credit | 41 | 258 | 983 |
Debit | 42 | -166 | -603 |
1.A.b.11 Personal, Cultural, and Recreational Services | 43 | -10 | -26 |
Credit | 44 | 4 | 14 |
Debit | 45 | -14 | -40 |
1.A.b.12 Government Goods and Services n.i.e | 46 | 0 | -15 |
Credit | 47 | 4 | 15 |
Debit | 48 | -4 | -30 |
1.B Primary Income | 49 | -418 | -1296 |
Credit | 50 | 502 | 2400 |
Debit | 51 | -920 | -3696 |
1.C Secondary Income | 52 | 44 | 152 |
Credit | 53 | 97 | 376 |
Debit | 54 | -53 | -224 |
2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) | 55 | -552 | -2442 |
2.1 Capital Account | 56 | -1 | -3 |
Credit | 57 | 0 | 2 |
Debit | 58 | -1 | -5 |
2.2. Financial Account (Including Net Errors and Omissions for the Quarter) | 59 | -551 | -2439 |
2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) | 60 | -430 | -2283 |
Including: 2.2.1.1 Direct Investment | 61 | -258 | -1525 |
2.2.1.1.1 Assets | 62 | -433 | -1855 |
2.2.1.1.1.1 Equity and investment fund shares | 63 | -265 | -1111 |
2.2.1.1.1.2 Debt instruments | 64 | -168 | -744 |
2.2.1.1.2 Liabilities | 65 | 175 | 330 |
2.2.1.1.2.1 Equity and investment fund shares | 66 | 234 | 621 |
2.2.1.1.2.2 Debt instruments | 67 | -59 | -291 |
2.2.2 Reserve Assets | 68 | -121 | -156 |
2.2.2.1 Monetary gold | 69 | 0 | -112 |
2.2.2.2 Special drawing rights | 70 | -9 | -21 |
2.2.2.3 Reserve position in the IMF | 71 | -1 | 12 |
2.2.2.4 Foreign exchange reserves | 72 | -111 | -35 |
2.2.2.5 Other reserves | 73 | 0 | 0 |
3. Net Errors and Omissions | 74 | / | -200 |
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 preliminary amount for 2023 is the sum of the official amounts of the first three quarters of BOP and the preliminary amount for 2023Q4.
4.From 2023Q4, "equity and investment fund shares" and "debt instruments" of direct investment assets and liabilities are released in preliminary data.
5.Thistable employs rounded-off numbers.
China's Balance of Payments (Preliminary Data)
Unit:SDR 100 million
Item | Line No. | 2023 Q4 | 2023 |
1. Current account | 1 | 417 | 1977 |
Credit | 2 | 7465 | 28345 |
Debit | 3 | -7048 | -26368 |
1. A Goods and Services | 4 | 700 | 2837 |
Credit | 5 | 7013 | 26264 |
Debit | 6 | -6313 | -23428 |
1.A.a Goods | 7 | 1161 | 4557 |
Credit | 8 | 6373 | 23842 |
Debit | 9 | -5212 | -19285 |
1.A.b Services | 10 | -461 | -1721 |
Credit | 11 | 640 | 2422 |
Debit | 12 | -1101 | -4143 |
1.A.b.1 Processing services | 13 | 24 | 90 |
Credit | 14 | 26 | 97 |
Debit | 15 | -2 | -7 |
1.A.b.2 Maintenance and Repair Services | 16 | 9 | 31 |
Credit | 17 | 21 | 75 |
Debit | 18 | -13 | -44 |
1.A.b.3 Transport | 19 | -168 | -644 |
Credit | 20 | 164 | 653 |
Debit | 21 | -333 | -1296 |
1.A.b.4 Travel | 22 | -380 | -1354 |
Credit | 23 | 44 | 119 |
Debit | 24 | -424 | -1473 |
1.A.b.5 Construction | 25 | 25 | 60 |
Credit | 26 | 41 | 119 |
Debit | 27 | -16 | -59 |
1.A.b.6 Insurance and Pension Services | 28 | -19 | -69 |
Credit | 29 | 4 | 52 |
Debit | 30 | -23 | -121 |
1.A.b.7 Financial Services | 31 | 1 | 5 |
Credit | 32 | 8 | 33 |
Debit | 33 | -7 | -28 |
1.A.b.8 Charges for the Use of Intellectual Property | 34 | -61 | -238 |
Credit | 35 | 18 | 82 |
Debit | 36 | -79 | -320 |
1.A.b.9 Telecommunications, Computer, and Information Services | 37 | 47 | 144 |
Credit | 38 | 112 | 435 |
Debit | 39 | -65 | -291 |
1.A.b.10 Other Business Services | 40 | 69 | 284 |
Credit | 41 | 195 | 737 |
Debit | 42 | -125 | -452 |
1.A.b.11 Personal, Cultural, and Recreational Services | 43 | -7 | -20 |
Credit | 44 | 3 | 10 |
Debit | 45 | -10 | -30 |
1.A.b.12 Government Goods and Services n.i.e | 46 | 0 | -11 |
Credit | 47 | 3 | 11 |
Debit | 48 | -3 | -22 |
1.B Primary Income | 49 | -316 | -973 |
Credit | 50 | 379 | 1799 |
Debit | 51 | -695 | -2772 |
1.C Secondary Income | 52 | 33 | 114 |
Credit | 53 | 73 | 282 |
Debit | 54 | -40 | -168 |
2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) | 55 | -417 | -1830 |
2.1 Capital Account | 56 | -1 | -2 |
Credit | 57 | 0 | 1 |
Debit | 58 | -1 | -4 |
2.2. Financial Account (Including Net Errors and Omissions for the Quarter) | 59 | -416 | -1828 |
2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) | 60 | -325 | -1708 |
Including: 2.2.1.1 Direct Investment | 61 | -196 | -1145 |
2.2.1.1.1 Assets | 62 | -327 | -1392 |
2.2.1.1.1.1 Equity and investment fund shares | 63 | -200 | -832 |
2.2.1.1.1.2 Debt instruments | 64 | -127 | -559 |
2.2.1.1.2 Liabilities | 65 | 131 | 247 |
2.2.1.1.2.1 Equity and investment fund shares | 66 | 176 | 466 |
2.2.1.1.2.2 Debt instruments | 67 | -45 | -219 |
2.2.2 Reserve Assets | 68 | -91 | -120 |
2.2.2.1 Monetary gold | 69 | 0 | -84 |
2.2.2.2 Special drawing rights | 70 | -7 | -15 |
2.2.2.3 Reserve position in the IMF | 71 | -1 | 9 |
2.2.2.4 Foreign exchange reserves | 72 | -84 | -30 |
2.2.2.5 Other reserves | 73 | 0 | 0 |
3. Net Errors and Omissions | 74 | / | -147 |
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 BOP statement for the quarter using the period average exchange rate of SDR against USD.
4.The preliminary amount for 2023 is the sum of the official amounts of the BOP for the first three quarters of 2023 and the preliminary amount for 2023Q4.
5.From 2023Q4, "equity and investment fund shares" and "debt instruments" of direct investment assets and liabilities are released in preliminary data.
6.Thistable employs rounded-off numbers.
