In the third quarter of 2024, China's current account registered a surplus of RMB 1044.1 billion, including a surplus of RMB 1634.2 billion under trade in goods, a deficit of RMB 416.1 billion under trade in services, a deficit of RMB 202.7 billion under primary income and a surplus of RMB 28.7 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of RMB 1044.1 billion.
In the first three quarters of 2024, China's current account registered a surplus of RMB 1713.0 billion, including a surplus of RMB 3693.5 billion under trade in goods, a deficit of RMB 1294.9 billion under trade in services, a deficit of RMB 758.0 billion under primary income, and a surplus of RMB 72.4 billion under secondary income. The capital and financial accounts (including net errors and omissions for the third quarter) recorded a deficit of RMB 1922.9 billion.
In the US dollar terms, in the third quarter of 2024, China's current account registered a surplus of USD 146.9 billion, including a surplus of USD 229.8 billion under trade in goods, a deficit of USD 58.5 billion under trade in services, a deficit of USD 28.5 billion under primary income and a surplus of USD 4.0 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of USD 146.9 billion.
In the US dollar terms, in the first three quarters of 2024, China's current account recorded a surplus of USD 240.6 billion, including a surplus of USD 518.2 billion under trade in goods, a deficit of USD 181.4 billion under trade in services, a deficit of USD 106.3 billion under primary income, and a surplus of USD 10.2 billion under secondary income. The capital and financial accounts (including net errors and omissions for the third quarter) recorded a deficit of USD 269.7 billion.
In SDR terms, in the third quarter of 2024, China's current account registered a surplus of SDR 109.6 billion, including a surplus of SDR 171.5 billion under trade in goods, a deficit of SDR 43.7 billion under trade in services, a deficit of SDR 21.3 billion under primary income and a surplus of SDR 3.0 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of SDR 109.6 billion.
In SDR terms, in the first three quarters of 2024, China posted a surplus of SDR 180.3 billion under the current account, including a surplus of SDR 389.2 billion under trade in goods, a deficit of SDR 136.5 billion under trade in services, a deficit of SDR 80.1 billion under primary income and a surplus of SDR 7.6 billion under secondary income. The capital and financial accounts (including net errors and omissions for the third quarter) recorded a deficit of SDR 202.1 billion. (End)
China's Balance of Payments, Q3 2024 (Preliminary Data)
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current account | 1 | 10441 | 1469 | 1096 |
Credit | 2 | 77299 | 10866 | 8119 |
Debit | 3 | -66858 | -9398 | -7024 |
1. A Goods and Services | 4 | 12181 | 1713 | 1278 |
Credit | 5 | 70556 | 9918 | 7411 |
Debit | 6 | -58375 | -8205 | -6133 |
1.A.a Goods | 7 | 16342 | 2298 | 1715 |
Credit | 8 | 63539 | 8932 | 6674 |
Debit | 9 | -47197 | -6634 | -4959 |
1.A.b Services | 10 | -4161 | -585 | -437 |
Credit | 11 | 7017 | 986 | 737 |
Debit | 12 | -11178 | -1571 | -1174 |
1.A.b.1 Processing services | 13 | 209 | 29 | 22 |
Credit | 14 | 233 | 33 | 24 |
Debit | 15 | -24 | -3 | -2 |
1.A.b.2 Maintenance and Repair Services | 16 | 66 | 9 | 7 |
Credit | 17 | 201 | 28 | 21 |
Debit | 18 | -135 | -19 | -14 |
1.A.b.3 Transport | 19 | -701 | -98 | -74 |
Credit | 20 | 2293 | 322 | 241 |
Debit | 21 | -2994 | -421 | -314 |
1.A.b.4 Travel | 22 | -3915 | -550 | -411 |
Credit | 23 | 735 | 103 | 77 |
Debit | 24 | -4650 | -653 | -488 |
1.A.b.5 Construction | 25 | 76 | 11 | 8 |
Credit | 26 | 225 | 32 | 24 |
Debit | 27 | -149 | -21 | -16 |
1.A.b.6 Insurance and Pension Services | 28 | -229 | -32 | -24 |
Credit | 29 | 62 | 9 | 6 |
Debit | 30 | -291 | -41 | -31 |
1.A.b.7 Financial Services | 31 | 15 | 2 | 2 |
Credit | 32 | 76 | 11 | 8 |
Debit | 33 | -62 | -9 | -6 |
1.A.b.8 Charges for the Use of Intellectual Property | 34 | -693 | -97 | -73 |
Credit | 35 | 117 | 16 | 12 |
Debit | 36 | -810 | -114 | -85 |
1.A.b.9 Telecommunications, Computer, and Information Services | 37 | 422 | 59 | 44 |
Credit | 38 | 1156 | 162 | 121 |
Debit | 39 | -733 | -103 | -77 |
1.A.b.10 Other Business Services | 40 | 741 | 104 | 78 |
Credit | 41 | 1863 | 262 | 196 |
Debit | 42 | -1122 | -158 | -118 |
1.A.b.11 Personal, Cultural, and Recreational Services | 43 | -113 | -16 | -12 |
Credit | 44 | 32 | 4 | 3 |
Debit | 45 | -145 | -20 | -15 |
1.A.b.12 Government Goods and Services n.i.e | 46 | -39 | -5 | -4 |
Credit | 47 | 25 | 3 | 3 |
Debit | 48 | -64 | -9 | -7 |
1.B Primary Income | 49 | -2027 | -285 | -213 |
Credit | 50 | 6039 | 849 | 635 |
Debit | 51 | -8066 | -1134 | -847 |
1.C Secondary Income | 52 | 287 | 40 | 30 |
Credit | 53 | 703 | 99 | 74 |
Debit | 54 | -416 | -59 | -44 |
2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) | 55 | -10441 | -1469 | -1096 |
2.1 Capital Account | 56 | 1 | 0 | 0 |
Credit | 57 | 3 | 0 | 0 |
Debit | 58 | -2 | 0 | 0 |
2.2. Financial Account (Including Net Errors and Omissions for the Quarter) | 59 | -10441 | -1469 | -1096 |
2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) | 60 | -12394 | -1743 | -1301 |
Including: 2.2.1.1 Direct Investment | 61 | -2990 | -419 | -315 |
2.2.1.1.1 Assets | 62 | -2411 | -339 | -253 |
2.2.1.1.1.1 Equity and investment fund shares | 63 | -2374 | -334 | -249 |
2.2.1.1.1.2 Debt instruments | 64 | -37 | -5 | -4 |
2.2.1.1.2 Liabilities | 65 | -578 | -81 | -62 |
2.2.1.1.2.1 Equity and investment fund shares | 66 | 528 | 75 | 55 |
2.2.1.1.2.2 Debt instruments | 67 | -1106 | -155 | -116 |
2.2.2 Reserve Assets | 68 | 1953 | 274 | 205 |
2.2.2.1 Monetary gold | 69 | 0 | 0 | 0 |
2.2.2.2 Special drawing rights | 70 | -121 | -17 | -13 |
2.2.2.3 Reserve position in the IMF | 71 | -28 | -4 | -3 |
2.2.2.4 Foreign exchange reserves | 72 | 2102 | 295 | 221 |
2.2.2.5 Other reserves | 73 | 0 | 0 | 0 |
3. Net Errors and Omissions | 74 | / | / | / |
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.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.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.According to preliminary statistics, in the third quarter of 2024, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 19.3 billion (RMB 137.3 billion).
6.This table employs rounded-off numbers.
China's Balance of Payments, First Three Quarters of 2024 (Preliminary Data)
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current account | 1 | 17130 | 2406 | 1803 |
Credit | 2 | 213151 | 29879 | 22469 |
Debit | 3 | -196021 | -27473 | -20666 |
1. A Goods and Services | 4 | 23986 | 3368 | 2527 |
Credit | 5 | 196142 | 27493 | 20675 |
Debit | 6 | -172156 | -24126 | -18147 |
1.A.a Goods | 7 | 36935 | 5182 | 3892 |
Credit | 8 | 176405 | 24728 | 18595 |
Debit | 9 | -139470 | -19546 | -14703 |
1.A.b Services | 10 | -12949 | -1814 | -1365 |
Credit | 11 | 19736 | 2766 | 2080 |
Debit | 12 | -32686 | -4580 | -3445 |
1.A.b.1 Processing services | 13 | 608 | 85 | 64 |
Credit | 14 | 669 | 94 | 71 |
Debit | 15 | -61 | -9 | -6 |
1.A.b.2 Maintenance and Repair Services | 16 | 177 | 25 | 19 |
Credit | 17 | 560 | 79 | 59 |
Debit | 18 | -383 | -54 | -40 |
1.A.b.3 Transport | 19 | -3310 | -463 | -349 |
Credit | 20 | 5696 | 799 | 600 |
Debit | 21 | -9006 | -1262 | -949 |
1.A.b.4 Travel | 22 | -11295 | -1582 | -1190 |
Credit | 23 | 1967 | 276 | 207 |
Debit | 24 | -13262 | -1858 | -1398 |
1.A.b.5 Construction | 25 | 379 | 53 | 40 |
Credit | 26 | 836 | 117 | 88 |
Debit | 27 | -457 | -64 | -48 |
1.A.b.6 Insurance and Pension Services | 28 | -663 | -93 | -70 |
Credit | 29 | 163 | 23 | 17 |
Debit | 30 | -826 | -116 | -87 |
1.A.b.7 Financial Services | 31 | 36 | 5 | 4 |
Credit | 32 | 220 | 31 | 23 |
Debit | 33 | -185 | -26 | -19 |
1.A.b.8 Charges for the Use of Intellectual Property | 34 | -1826 | -256 | -193 |
Credit | 35 | 624 | 87 | 66 |
Debit | 36 | -2450 | -343 | -258 |
1.A.b.9 Telecommunications, Computer, and Information Services | 37 | 1134 | 159 | 120 |
Credit | 38 | 3289 | 461 | 347 |
Debit | 39 | -2155 | -302 | -227 |
1.A.b.10 Other Business Services | 40 | 2113 | 296 | 222 |
Credit | 41 | 5547 | 777 | 584 |
Debit | 42 | -3434 | -481 | -362 |
1.A.b.11 Personal, Cultural, and Recreational Services | 43 | -219 | -31 | -23 |
Credit | 44 | 85 | 12 | 9 |
Debit | 45 | -304 | -43 | -32 |
1.A.b.12 Government Goods and Services n.i.e | 46 | -84 | -12 | -9 |
Credit | 47 | 78 | 11 | 8 |
Debit | 48 | -162 | -23 | -17 |
1.B Primary Income | 49 | -7580 | -1063 | -801 |
Credit | 50 | 15055 | 2112 | 1588 |
Debit | 51 | -22635 | -3175 | -2389 |
1.C Secondary Income | 52 | 724 | 102 | 76 |
Credit | 53 | 1955 | 274 | 206 |
Debit | 54 | -1230 | -172 | -130 |
2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) | 55 | -19229 | -2697 | -2021 |
2.1 Capital Account | 56 | -8 | -1 | -1 |
Credit | 57 | 8 | 1 | 1 |
Debit | 58 | -15 | -2 | -2 |
2.2. Financial Account (Including Net Errors and Omissions for the Quarter) | 59 | -19222 | -2696 | -2021 |
2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) | 60 | -21463 | -3015 | -2263 |
Including: 2.2.1.1 Direct Investment | 61 | -11080 | -1555 | -1173 |
2.2.1.1.1 Assets | 62 | -10179 | -1428 | -1076 |
2.2.1.1.1.1 Equity and investment fund shares | 63 | -7039 | -987 | -743 |
2.2.1.1.1.2 Debt instruments | 64 | -3141 | -441 | -333 |
2.2.1.1.2 Liabilities | 65 | -900 | -127 | -97 |
2.2.1.1.2.1 Equity and investment fund shares | 66 | 2387 | 334 | 250 |
2.2.1.1.2.2 Debt instruments | 67 | -3287 | -461 | -348 |
2.2.2 Reserve Assets | 68 | 2241 | 319 | 242 |
2.2.2.1 Monetary gold | 69 | 0 | 0 | 0 |
2.2.2.2 Special drawing rights | 70 | -90 | -13 | -9 |
2.2.2.3 Reserve position in the IMF | 71 | -29 | -4 | -3 |
2.2.2.4 Foreign exchange reserves | 72 | 2360 | 336 | 254 |
2.2.2.5 Other reserves | 73 | 0 | 0 | 0 |
3. Net Errors and Omissions | 74 | 2099 | 291 | 219 |
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. 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 the first three quarters of 2024 is the sum of the official amounts of the BOP for 2024Q1 and 2024Q2 and the preliminary amount for 2024Q3.
5.According to preliminary statistics, in the first three quarters of 2024, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 60.0 billion (RMB 428.3billion).
6.This table employs rounded-off numbers.
