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SAFE News
  • Index number:
    000014453-2024-0009
  • Dispatch date:
    2024-02-18
  • Publish organization:
    State Administration of Foreign Exchange
  • Exchange Reference number:
  • Name:
    SAFE Releases Preliminary Data of the Balance of Payments for the Fourth Quarter and the Annual of 2023
SAFE Releases Preliminary Data of the Balance of Payments for the Fourth Quarter and the Annual of 2023

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.




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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