In the fourth quarter of 2024, China's current account registered a surplus of RMB 1293.3 billion, including a surplus of RMB 1786.6 billion under trade in goods, a deficit of RMB 338.3 billion under trade in services, a deficit of RMB 188.1 billion under primary income and a surplus of RMB 33.1 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of RMB 1293.3 billion.
In 2024, China's current account registered a surplus of RMB 3011.7 billion, including a surplus of RMB 5481.2 billion under trade in goods, a deficit of RMB 1634.0 billion under trade in services, a deficit of RMB 941.2 billion under primary income, and a surplus of RMB 105.7 billion under secondary income. The capital and financial accounts (including net errors and omissions for the fourth quarter) recorded a deficit of RMB 3154.6 billion.
In the US dollar terms, in the fourth quarter of 2024, China's current account registered a surplus of USD 180.7 billion, including a surplus of USD 249.6 billion under trade in goods, a deficit of USD 47.3 billion under trade in services, a deficit of USD 26.3 billion under primary income and a surplus of USD 4.6 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of USD 180.7 billion.
In the US dollar terms, in 2024, China's current account recorded a surplus of USD 422.0 billion, including a surplus of USD 767.9 billion under trade in goods, a deficit of USD 228.8 billion under trade in services, a deficit of USD 131.9 billion under primary income, and a surplus of USD 14.8 billion under secondary income. The capital and financial accounts (including net errors and omissions for the fourth quarter) recorded a deficit of USD 441.6 billion.
In SDR terms, in the fourth quarter of 2024, China's current account registered a surplus of SDR 136.7 billion, including a surplus of SDR 188.9 billion under trade in goods, a deficit of SDR 35.8 billion under trade in services, a deficit of SDR 19.9 billion under primary income and a surplus of SDR 3.5 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of SDR 136.7 billion.
In SDR terms, in 2024, China posted a surplus of SDR 317.6 billion under the current account, including a surplus of SDR 578.2 billion under trade in goods, a deficit of SDR 172.4 billion under trade in services, a deficit of SDR 99.5 billion under primary income and a surplus of SDR 11.1 billion under secondary income.The capital and financial accounts (including net errors and omissions for the fourth quarter) recorded a deficit of SDR 332.2 billion. (End)
China's Balance of Payments, Q4 2024 (Preliminary Data)
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current account | 1 | 12933 | 1807 | 1367 |
Credit | 2 | 81231 | 11349 | 8587 |
Debit | 3 | -68297 | -9543 | -7220 |
1. A Goods and Services | 4 | 14483 | 2023 | 1531 |
Credit | 5 | 74707 | 10438 | 7897 |
Debit | 6 | -60224 | -8415 | -6366 |
1.A.a Goods | 7 | 17866 | 2496 | 1889 |
Credit | 8 | 67019 | 9364 | 7084 |
Debit | 9 | -49153 | -6868 | -5196 |
1.A.b Services | 10 | -3383 | -473 | -358 |
Credit | 11 | 7688 | 1074 | 813 |
Debit | 12 | -11071 | -1547 | -1171 |
1.A.b.1 Processing services | 13 | 210 | 29 | 22 |
Credit | 14 | 232 | 32 | 25 |
Debit | 15 | -22 | -3 | -2 |
1.A.b.2 Maintenance and Repair Services | 16 | 87 | 12 | 9 |
Credit | 17 | 236 | 33 | 25 |
Debit | 18 | -148 | -21 | -16 |
1.A.b.3 Transport | 19 | -647 | -90 | -68 |
Credit | 20 | 2342 | 327 | 248 |
Debit | 21 | -2989 | -418 | -316 |
1.A.b.4 Travel | 22 | -3735 | -522 | -395 |
Credit | 23 | 864 | 121 | 91 |
Debit | 24 | -4599 | -642 | -486 |
1.A.b.5 Construction | 25 | 222 | 31 | 23 |
Credit | 26 | 366 | 51 | 39 |
Debit | 27 | -145 | -20 | -15 |
1.A.b.6 Insurance and Pension Services | 28 | -196 | -27 | -21 |
Credit | 29 | 11 | 2 | 1 |
Debit | 30 | -207 | -29 | -22 |
1.A.b.7 Financial Services | 31 | -3 | 0 | 0 |
Credit | 32 | 76 | 11 | 8 |
Debit | 33 | -79 | -11 | -8 |
1.A.b.8 Charges for the Use of Intellectual Property | 34 | -716 | -100 | -76 |
Credit | 35 | 99 | 14 | 11 |
Debit | 36 | -816 | -114 | -86 |
1.A.b.9 Telecommunications, Computer, and Information Services | 37 | 635 | 89 | 67 |
Credit | 38 | 1354 | 189 | 143 |
Debit | 39 | -720 | -101 | -76 |
1.A.b.10 Other Business Services | 40 | 848 | 118 | 90 |
Credit | 41 | 2027 | 283 | 214 |
Debit | 42 | -1179 | -165 | -125 |
1.A.b.11 Personal, Cultural, and Recreational Services | 43 | -63 | -9 | -7 |
Credit | 44 | 51 | 7 | 5 |
Debit | 45 | -114 | -16 | -12 |
1.A.b.12 Government Goods and Services n.i.e | 46 | -24 | -3 | -3 |
Credit | 47 | 30 | 4 | 3 |
Debit | 48 | -54 | -8 | -6 |
1.B Primary Income | 49 | -1881 | -263 | -199 |
Credit | 50 | 5780 | 807 | 611 |
Debit | 51 | -7660 | -1070 | -810 |
1.C Secondary Income | 52 | 331 | 46 | 35 |
Credit | 53 | 744 | 104 | 79 |
Debit | 54 | -413 | -58 | -44 |
2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) | 55 | -12933 | -1807 | -1367 |
2.1 Capital Account | 56 | 3 | 0 | 0 |
Credit | 57 | 6 | 1 | 1 |
Debit | 58 | -3 | 0 | 0 |
2.2. Financial Account (Including Net Errors and Omissions for the Quarter) | 59 | -12937 | -1807 | -1368 |
2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) | 60 | -15110 | -2111 | -1598 |
Including: 2.2.1.1 Direct Investment | 61 | -865 | -120 | -92 |
2.2.1.1.1 Assets | 62 | -2113 | -295 | -223 |
2.2.1.1.1.1 Equity and investment fund shares | 63 | -2204 | -308 | -233 |
2.2.1.1.1.2 Debt instruments | 64 | 91 | 13 | 10 |
2.2.1.1.2 Liabilities | 65 | 1247 | 175 | 132 |
2.2.1.1.2.1 Equity and investment fund shares | 66 | 1776 | 248 | 188 |
2.2.1.1.2.2 Debt instruments | 67 | -528 | -74 | -56 |
2.2.2 Reserve Assets | 68 | 2173 | 304 | 230 |
2.2.2.1 Monetary gold | 69 | 0 | 0 | 0 |
2.2.2.2 Special drawing rights | 70 | 156 | 22 | 16 |
2.2.2.3 Reserve position in the IMF | 71 | 28 | 4 | 3 |
2.2.2.4 Foreign exchange reserves | 72 | 1990 | 278 | 210 |
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 BOPstatement 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 fourth quarter of 2024, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 30.5 billion (RMB 218.8 billion).
6.This table employs rounded-off numbers.
China's Balance of Payments, 2024 (Preliminary Data)
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current account | 1 | 30117 | 4220 | 3176 |
Credit | 2 | 294432 | 41236 | 31061 |
Debit | 3 | -264315 | -37016 | -27886 |
1. A Goods and Services | 4 | 38472 | 5391 | 4059 |
Credit | 5 | 270851 | 37932 | 28572 |
Debit | 6 | -232379 | -32541 | -24514 |
1.A.a Goods | 7 | 54812 | 7679 | 5782 |
Credit | 8 | 243421 | 34091 | 25679 |
Debit | 9 | -188609 | -26412 | -19897 |
1.A.b Services | 10 | -16340 | -2288 | -1724 |
Credit | 11 | 27430 | 3840 | 2893 |
Debit | 12 | -43770 | -6129 | -4617 |
1.A.b.1 Processing services | 13 | 818 | 115 | 86 |
Credit | 14 | 901 | 126 | 95 |
Debit | 15 | -83 | -12 | -9 |
1.A.b.2 Maintenance and Repair Services | 16 | 265 | 37 | 28 |
Credit | 17 | 796 | 111 | 84 |
Debit | 18 | -531 | -74 | -56 |
1.A.b.3 Transport | 19 | -3971 | -556 | -419 |
Credit | 20 | 8039 | 1126 | 848 |
Debit | 21 | -12010 | -1682 | -1267 |
1.A.b.4 Travel | 22 | -15018 | -2102 | -1584 |
Credit | 23 | 2842 | 398 | 300 |
Debit | 24 | -17860 | -2501 | -1884 |
1.A.b.5 Construction | 25 | 601 | 84 | 63 |
Credit | 26 | 1202 | 168 | 127 |
Debit | 27 | -601 | -84 | -63 |
1.A.b.6 Insurance and Pension Services | 28 | -859 | -120 | -90 |
Credit | 29 | 175 | 24 | 18 |
Debit | 30 | -1033 | -145 | -109 |
1.A.b.7 Financial Services | 31 | 26 | 4 | 3 |
Credit | 32 | 290 | 41 | 31 |
Debit | 33 | -264 | -37 | -28 |
1.A.b.8 Charges for the Use of Intellectual Property | 34 | -2542 | -356 | -268 |
Credit | 35 | 724 | 101 | 76 |
Debit | 36 | -3266 | -457 | -345 |
1.A.b.9 Telecommunications, Computer, and Information Services | 37 | 1768 | 248 | 187 |
Credit | 38 | 4644 | 650 | 490 |
Debit | 39 | -2875 | -402 | -303 |
1.A.b.10 Other Business Services | 40 | 2963 | 415 | 312 |
Credit | 41 | 7574 | 1060 | 799 |
Debit | 42 | -4612 | -646 | -487 |
1.A.b.11 Personal, Cultural, and Recreational Services | 43 | -282 | -40 | -30 |
Credit | 44 | 136 | 19 | 14 |
Debit | 45 | -418 | -59 | -44 |
1.A.b.12 Government Goods and Services n.i.e | 46 | -109 | -15 | -11 |
Credit | 47 | 108 | 15 | 11 |
Debit | 48 | -217 | -30 | -23 |
1.B Primary Income | 49 | -9412 | -1319 | -995 |
Credit | 50 | 20882 | 2926 | 2204 |
Debit | 51 | -30293 | -4245 | -3199 |
1.C Secondary Income | 52 | 1057 | 148 | 111 |
Credit | 53 | 2700 | 378 | 285 |
Debit | 54 | -1643 | -230 | -173 |
2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) | 55 | -31546 | -4416 | -3322 |
2.1 Capital Account | 56 | -4 | -1 | 0 |
Credit | 57 | 14 | 2 | 1 |
Debit | 58 | -18 | -3 | -2 |
2.2. Financial Account (Including Net Errors and Omissions for the Quarter) | 59 | -31542 | -4415 | -3322 |
2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) | 60 | -35956 | -5038 | -3793 |
Including: 2.2.1.1 Direct Investment | 61 | -12005 | -1684 | -1271 |
2.2.1.1.1 Assets | 62 | -12333 | -1728 | -1303 |
2.2.1.1.1.1 Equity and investment fund shares | 63 | -9296 | -1302 | -981 |
2.2.1.1.1.2 Debt instruments | 64 | -3037 | -426 | -322 |
2.2.1.1.2 Liabilities | 65 | 327 | 45 | 32 |
2.2.1.1.2.1 Equity and investment fund shares | 66 | 4177 | 585 | 439 |
2.2.1.1.2.2 Debt instruments | 67 | -3850 | -540 | -407 |
2.2.2 Reserve Assets | 68 | 4414 | 623 | 472 |
2.2.2.1 Monetary gold | 69 | 0 | 0 | 0 |
2.2.2.2 Special drawing rights | 70 | 65 | 9 | 7 |
2.2.2.3 Reserve position in the IMF | 71 | -1 | 0 | 0 |
2.2.2.4 Foreign exchange reserves | 72 | 4350 | 614 | 465 |
2.2.2.5 Other reserves | 73 | 0 | 0 | 0 |
3. Net Errors and Omissions | 74 | 1429 | 196 | 146 |
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 2024 is the sum of the official amounts of the BOP for 2024Q1, 2024Q2, 2024Q3 and the preliminary amount for 2024Q4.
5.According to preliminary statistics, in 2024, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 90.8 billion (RMB 648.8 billion).
6.This table employs rounded-off numbers.
