In the second quarter of 2026, China's current account registered a surplus of RMB 1333.7 billion, including a surplus of RMB 1906.5 billion under trade in goods, a deficit of RMB 358.4 billion under trade in services, a deficit of RMB 257.2 billion under primary income and a surplus of RMB 42.8 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of RMB 1333.7 billion. Inward foreign direct investments (FDI) continued the net inflow.
In the first half of 2026, China's current account registered a surplus of RMB 2617.4 billion, including a surplus of RMB 3628.4 billion under trade in goods, a deficit of RMB 772.0 billion under trade in services, a deficit of RMB 308.6 billion under primary income, and a surplus of RMB 69.5 billion under secondary income. The capital and financial accounts (including net errors and omissions for the second quarter) recorded a deficit of RMB 2643.9 billion.
In the US dollar terms, in the second quarter of 2026, China's current account registered a surplus of USD 195.1 billion, including a surplus of USD 278.9 billion under trade in goods, a deficit of USD 52.4 billion under trade in services, a deficit of USD 37.6 billion under primary income and a surplus of USD 6.3 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of USD 195.1 billion.
In the US dollar terms, in the first half of 2026, China's current account recorded a surplus of USD 379.4 billion, including a surplus of USD 526.3 billion under trade in goods, a deficit of USD 112.0 billion under trade in services, a deficit of USD 45.1 billion under primary income, and a surplus of USD 10.1 billion under secondary income. The capital and financial accounts (including net errors and omissions for the second quarter) recorded a deficit of USD 383.2 billion.
In SDR terms, in the second quarter of 2026, China's current account registered a surplus of SDR 142.8 billion, including a surplus of SDR 204.0 billion under trade in goods, a deficit of SDR 38.3 billion under trade in services, a deficit of SDR 27.5 billion under primary income and a surplus of SDR 4.6 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of SDR 142.8 billion.
In SDR terms, in the first half of 2026, China posted a surplus of SDR 277.3 billion under the current account, including a surplus of SDR 384.7 billion under trade in goods, a deficit of SDR 81.8 billion under trade in services, a deficit of SDR 33.0 billion under primary income and a surplus of SDR 7.4 billion under secondary income. The capital and financial accounts (including net errors and omissions for the second quarter) recorded a deficit of SDR 280.0 billion. (End)
China's Balance of Payments, Q2 2026 (Preliminary Data)
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current account | 1 | 13337 | 1951 | 1428 |
Credit | 2 | 90939 | 13296 | 9725 |
Debit | 3 | -77602 | -11345 | -8298 |
1. A Goods and Services | 4 | 15481 | 2265 | 1657 |
Credit | 5 | 83284 | 12176 | 8906 |
Debit | 6 | -67803 | -9912 | -7249 |
1.A.a Goods | 7 | 19065 | 2789 | 2040 |
Credit | 8 | 75263 | 11004 | 8049 |
Debit | 9 | -56198 | -8215 | -6008 |
1.A.b Services | 10 | -3584 | -524 | -383 |
Credit | 11 | 8021 | 1172 | 858 |
Debit | 12 | -11605 | -1697 | -1241 |
1.A.b.1 Processing services | 13 | 161 | 24 | 17 |
Credit | 14 | 232 | 34 | 25 |
Debit | 15 | -71 | -10 | -8 |
1.A.b.2 Maintenance and Repair Services | 16 | 68 | 10 | 7 |
Credit | 17 | 256 | 37 | 27 |
Debit | 18 | -188 | -28 | -20 |
1.A.b.3 Transport | 19 | -965 | -141 | -103 |
Credit | 20 | 1714 | 251 | 183 |
Debit | 21 | -2679 | -392 | -287 |
1.A.b.4 Travel | 22 | -2710 | -396 | -290 |
Credit | 23 | 1239 | 181 | 132 |
Debit | 24 | -3949 | -577 | -422 |
1.A.b.5 Construction | 25 | 173 | 25 | 19 |
Credit | 26 | 314 | 46 | 34 |
Debit | 27 | -141 | -21 | -15 |
1.A.b.6 Insurance and Pension Services | 28 | -237 | -35 | -25 |
Credit | 29 | 125 | 18 | 13 |
Debit | 30 | -361 | -53 | -39 |
1.A.b.7 Financial Services | 31 | 13 | 2 | 1 |
Credit | 32 | 108 | 16 | 12 |
Debit | 33 | -95 | -14 | -10 |
1.A.b.8 Charges for the Use of Intellectual Property | 34 | -593 | -87 | -63 |
Credit | 35 | 296 | 43 | 32 |
Debit | 36 | -890 | -130 | -95 |
1.A.b.9 Telecommunications, Computer, and Information Services | 37 | 669 | 98 | 71 |
Credit | 38 | 1491 | 218 | 159 |
Debit | 39 | -822 | -120 | -88 |
1.A.b.10 Other Business Services | 40 | -115 | -17 | -12 |
Credit | 41 | 2144 | 313 | 229 |
Debit | 42 | -2259 | -330 | -241 |
1.A.b.11 Personal, Cultural, and Recreational Services | 43 | -27 | -4 | -3 |
Credit | 44 | 69 | 10 | 7 |
Debit | 45 | -96 | -14 | -10 |
1.A.b.12 Government Goods and Services n.i.e | 46 | -20 | -3 | -2 |
Credit | 47 | 34 | 5 | 4 |
Debit | 48 | -54 | -8 | -6 |
1.B Primary Income | 49 | -2572 | -376 | -275 |
Credit | 50 | 6789 | 993 | 726 |
Debit | 51 | -9361 | -1369 | -1002 |
1.C Secondary Income | 52 | 428 | 63 | 46 |
Credit | 53 | 867 | 127 | 93 |
Debit | 54 | -438 | -64 | -47 |
2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) | 55 | -13337 | -1951 | -1428 |
2.1 Capital Account | 56 | 8 | 1 | 1 |
Credit | 57 | 10 | 1 | 1 |
Debit | 58 | -2 | 0 | 0 |
2.2. Financial Account (Including Net Errors and Omissions for the Quarter) | 59 | -13345 | -1952 | -1429 |
2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) | 60 | -8224 | -1206 | -885 |
Including: 2.2.1.1 Direct Investment | 61 | -798 | -117 | -85 |
2.2.1.1.1 Assets | 62 | -2329 | -340 | -249 |
2.2.1.1.1.1 Equity and investment fund shares | 63 | -2354 | -344 | -252 |
2.2.1.1.1.2 Debt instruments | 64 | 25 | 4 | 3 |
2.2.1.1.2 Liabilities | 65 | 1531 | 224 | 164 |
2.2.1.1.2.1 Equity and investment fund shares | 66 | 1465 | 214 | 156 |
2.2.1.1.2.2 Debt instruments | 67 | 66 | 10 | 7 |
2.2.2 Reserve Assets | 68 | -5121 | -746 | -544 |
2.2.2.1 Monetary gold | 69 | 0 | 0 | 0 |
2.2.2.2 Special drawing rights | 70 | 13 | 2 | 1 |
2.2.2.3 Reserve position in the IMF | 71 | -5 | -1 | -1 |
2.2.2.4 Foreign exchange reserves | 72 | -5129 | -747 | -545 |
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 second quarter of 2026, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 22.4 billion (RMB 153.2 billion).
6.This table employs rounded-off numbers.
China's Balance of Payments, First Half of 2026 (Preliminary Data)
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current account | 1 | 26174 | 3794 | 2773 |
Credit | 2 | 170750 | 24779 | 18114 |
Debit | 3 | -144576 | -20985 | -15341 |
1. A Goods and Services | 4 | 28564 | 4144 | 3029 |
Credit | 5 | 157027 | 22786 | 16657 |
Debit | 6 | -128462 | -18643 | -13628 |
1.A.a Goods | 7 | 36284 | 5263 | 3847 |
Credit | 8 | 141959 | 20600 | 15059 |
Debit | 9 | -105675 | -15337 | -11212 |
1.A.b Services | 10 | -7720 | -1120 | -818 |
Credit | 11 | 15067 | 2186 | 1598 |
Debit | 12 | -22787 | -3306 | -2417 |
1.A.b.1 Processing services | 13 | 327 | 47 | 35 |
Credit | 14 | 464 | 67 | 49 |
Debit | 15 | -137 | -20 | -15 |
1.A.b.2 Maintenance and Repair Services | 16 | 167 | 24 | 18 |
Credit | 17 | 519 | 75 | 55 |
Debit | 18 | -351 | -51 | -37 |
1.A.b.3 Transport | 19 | -1953 | -283 | -207 |
Credit | 20 | 3030 | 440 | 322 |
Debit | 21 | -4983 | -724 | -529 |
1.A.b.4 Travel | 22 | -5998 | -869 | -635 |
Credit | 23 | 2292 | 333 | 243 |
Debit | 24 | -8290 | -1202 | -878 |
1.A.b.5 Construction | 25 | 337 | 49 | 36 |
Credit | 26 | 624 | 91 | 66 |
Debit | 27 | -288 | -42 | -30 |
1.A.b.6 Insurance and Pension Services | 28 | -491 | -71 | -52 |
Credit | 29 | 141 | 21 | 15 |
Debit | 30 | -632 | -92 | -67 |
1.A.b.7 Financial Services | 31 | -1 | 0 | 0 |
Credit | 32 | 204 | 30 | 22 |
Debit | 33 | -205 | -30 | -22 |
1.A.b.8 Charges for the Use of Intellectual Property | 34 | -1162 | -169 | -123 |
Credit | 35 | 499 | 72 | 53 |
Debit | 36 | -1660 | -241 | -176 |
1.A.b.9 Telecommunications, Computer, and Information Services | 37 | 1086 | 158 | 115 |
Credit | 38 | 2716 | 394 | 288 |
Debit | 39 | -1630 | -236 | -173 |
1.A.b.10 Other Business Services | 40 | 70 | 9 | 7 |
Credit | 41 | 4388 | 636 | 465 |
Debit | 42 | -4318 | -627 | -458 |
1.A.b.11 Personal, Cultural, and Recreational Services | 43 | -47 | -7 | -5 |
Credit | 44 | 128 | 19 | 14 |
Debit | 45 | -175 | -25 | -19 |
1.A.b.12 Government Goods and Services n.i.e | 46 | -55 | -8 | -6 |
Credit | 47 | 62 | 9 | 7 |
Debit | 48 | -116 | -17 | -12 |
1.B Primary Income | 49 | -3086 | -451 | -330 |
Credit | 50 | 12147 | 1764 | 1290 |
Debit | 51 | -15233 | -2214 | -1619 |
1.C Secondary Income | 52 | 695 | 101 | 74 |
Credit | 53 | 1576 | 229 | 167 |
Debit | 54 | -881 | -128 | -94 |
2. Capital and Financial Accounts (Including Net Errors and Omissions for the Second Quarter) | 55 | -26439 | -3832 | -2800 |
2.1 Capital Account | 56 | 5 | 1 | 1 |
Credit | 57 | 13 | 2 | 1 |
Debit | 58 | -8 | -1 | -1 |
2.2. Financial Account (Including Net Errors and Omissions for the Second Quarter) | 59 | -26444 | -3833 | -2800 |
2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Second Quarter) | 60 | -17978 | -2608 | -1908 |
Including: 2.2.1.1 Direct Investment | 61 | -1409 | -204 | -149 |
2.2.1.1.1 Assets | 62 | -5320 | -771 | -564 |
2.2.1.1.1.1 Equity and investment fund shares | 63 | -4802 | -696 | -509 |
2.2.1.1.1.2 Debt instruments | 64 | -517 | -75 | -55 |
2.2.1.1.2 Liabilities | 65 | 3911 | 567 | 414 |
2.2.1.1.2.1 Equity and investment fund shares | 66 | 4127 | 598 | 437 |
2.2.1.1.2.2 Debt instruments | 67 | -216 | -31 | -23 |
2.2.2 Reserve Assets | 68 | -8466 | -1225 | -893 |
2.2.2.1 Monetary gold | 69 | 0 | 0 | 0 |
2.2.2.2 Special drawing rights | 70 | 46 | 7 | 5 |
2.2.2.3 Reserve position in the IMF | 71 | 14 | 2 | 1 |
2.2.2.4 Foreign exchange reserves | 72 | -8526 | -1234 | -899 |
2.2.2.5 Other reserves | 73 | 0 | 0 | 0 |
3. Net Errors and Omissions | 74 | 266 | 38 | 27 |
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 half of 2026 is the sum of the official amounts of the BOP for 2026Q1 and the preliminary amount for 2026Q2.
5.According to preliminary statistics, in the first half of 2026, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 43.1 billion (RMB 297.0 billion).
6.This table employs rounded-off numbers.
