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The State Administration of Foreign Exchange (SAFE) has recently released data on foreign exchange settlement and sales by banks as well as cross-border receipts and payments by non-banking sectors in July 2022. The SAFE Deputy Administrator and Press Spokesperson Wang Chunying answered media questions on China’s foreign exchange receipts and payments of July 2022. Q: Could you brief us on China’s foreign exchange receipts and payments in July 2022? A: In general, China’s foreign exchange market operated smoothly, and the supply and demand of foreign exchange market within China kept in balance. In July, due to the influence of seasonal factors such as corporate dividend payouts, the foreign-related receipts and payments by non-banking sectors, including enterprises and individuals, posted a small deficit, which was a normal fluctuation within the balance range. However, in early August, it posted surplus of more than USD 10 billion. The current situation of foreign-related receipts and payments has not changed the overall pattern of domestic foreign exchange supply and demand. In July, the scale of the foreign exchange settlement and sales by banks was basically the same. Taking into account other supply and demand factors, the domestic supply and demand of foreign exchange remained in basic balance. The volume of China’s foreign exchange reserves remained stable. By the end of July 2022, China’s foreign exchange reserves stood at USD 3.1041 trillion, up by USD 32.8 billion from the end of June, mainly due to the combined effects of currency translation and asset price changes. The transactions in China’s foreign exchange market were in a rational and orderly manner, and the willingness of market entities to surrender and purchase foreign exchange was generally stable. In July, the foreign exchange settlement rate, the measurement of customers’ desire to settle foreign exchange, or the ratio of foreign exchange sold by customers to banks to foreign exchange received by customers, increased by 6.1 percentage points from June and reached 71%, at a relatively high level in recent years. On the other hand, the foreign exchange sales rate which measures customers’ desire to buy foreign exchange, or the ratio of foreign exchange purchased by customers from banks to foreign-related foreign exchange payments made by customers, stood at 67%, an increase of 1.8 percentage points from June, which maintained stable on the whole. The continued surplus in the current account played an important role in maintaining the balance in China’s foreign exchange supply and demand. According to the preliminary data, in the first half of 2022, the current account surplus stood at USD 169.1 billion, a year-on-year increase of 45%, and its ratio to Gross Domestic Product (GDP) reached 1.9%, which maintained within a reasonable and balanced range. And the current account continued maintaining a reasonable scale of surplus in July. Since the beginning of this year, the surplus of foreign-related receipts and payments and foreign exchange settlement and sales under the current account have been at high levels in recent years, which was an important source of foreign exchange funds for China. To be specific, trade in goods showed strong resilience. In July, trade in goods in terms of foreign-related receipts and payments registered a surplus of USD 42.1 billion, reflecting the relative advantages of China’s industrial chain and supply chain as well as the achievements of the transformation and upgrading of these areas in recent years. Looking ahead to the future, there are still many unstable and uncertain factors in the external environment. However, China has continued to implement the efficient coordinated epidemic prevention and control as well as economic and social development. China’s economy has continued to recover, with its long-term sound fundamentals unchanged. Meanwhile, China’s foreign exchange market has become more resilient, and thus it has the foundation and conditions to continue to operate smoothly. 2022-08-15/en/2022/0815/1992.html
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As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in July 2022, the amount of foreign exchange settlement and sales by banks was RMB 1483.3 billion and RMB 1489.4 billion, respectively. During January to July 2022, the accumulative amount of foreign exchange settlement and sales by banks was RMB 10095.0 billion and RMB 9555.6 billion, respectively. In the US dollar terms, in July 2022, the amount of foreign exchange settlement and sales by banks was USD 220.3 billion and USD 221.2 billion, respectively. During January to July 2022, the accumulative amount of foreign exchange settlement and sales by banks was USD 1549.2 billion and USD 1464.9 billion, respectively. In July 2022, the amount of cross-border receipts and payments by non-banking sectors was RMB 3462.8 billion and RMB 3537.6 billion, respectively. During January to July 2022, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 23949.8 billion and RMB 23491.8 billion, respectively. In the US dollar terms, in July 2022, the amount of cross-border receipts and payments by non-banking sectors was USD 514.3 billion and USD 525.5 billion, respectively. During January to July 2022, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 3674.3 billion and USD 3602.1 billion, respectively. Addendum: Glossary and relevant definitions Balance of payments (BOP) refers to all economic transactions between residents and non-residents. Foreign exchange settlement and sales by banks refers to settlement and sale transaction that bank executes for customers and for the banks themselves, including statistic data on settlements of forward contracts for foreign exchange settlement and sales and the exercises of option, and excluding the transactions in the interbank foreign exchange market. The statistic reporting date of Foreign exchange settlement and sales by banks should be the trade day of the Foreign exchange settlement and sales transaction. By definition, foreign exchange settlement means that foreign exchange holders sell foreign exchange to banks, and foreign exchange sales means that banks sell foreign exchange to foreign exchange buyers. The newly signed contract amount of forward foreign exchange settlement and sales refers to the binding forward contract between a bank and its client that predetermines foreign exchange currency, amount, exchange rate and tenor which to be executed upon maturity. The unwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forward contract due to change in its real demand, client to fully or partially close its forward position by executing another deal with opposite direction to the original contract. The rolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract due to change in its real demand. The outstanding amount of forward foreign exchange settlement and sales by the end of the current period refers to the total amount of forward contracts accumulated from all non-matured forward contracts with client. The net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client. The cross-border receipts and payments by non-banking sectors refers to the receipts and payments between domestic non-banking sectors (including institutional and individual residents) and non-residents through domestic banks, excluding receipts and payments in cash. In particular, the statistics includes cross-border receipts and payments between non-banking sectors and non-residents through domestic banks (including RMB and foreign currency), and domestic receipts and payments between non-banking sectors and non-residents through domestic banks (temporarily excluding domestic receipts and payments in RMB between individual residents and non-resident individuals). Data are collected when customers conduct receipts and payments with non-resident counterparties at domestic banks. Specifically, the receipts refer to the capital of non-banking sectors received from non-residents via domestic banks; the payments refer to the capital of non-banking sectors paid to non-residents via domestic banks. 2022-08-15/en/2022/0815/1988.html
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The State Administration of Foreign Exchange (SAFE) recently released the preliminary data of the balance of payments (BOP) for the second quarter and the first half of 2022. Wang Chunying, SAFE Deputy Administrator and Press Spokesperson, answered media questions on relevant issues. Q: What are the characteristics of China’s BOP in the first half of 2022? A: The preliminary data shows that, in the first half of 2022, China maintained a basic equilibrium in its BOP. Specifically, the current account reached surplus of USD 169.1 billion, accounting for 1.9% of GDP during the period and remaining within a reasonable range. Direct investment witnessed a net inflow of USD 74.9 billion, which remained at a relatively high level. First, the trade surplus in goods increased year on year. In the first half of 2022, China’s import and export of goods trade showed strong resilience. Trade in goods on BOP basis posted a surplus of USD 320.7 billion, an increase of 36%, the highest value for the same period over the years. Specifically, the export of goods reached USD 1.6437 trillion, a year-on-year increase of 13%; the import of goods registered USD 1.3230 trillion, a year-on-year increase of 8%. Second, the trade deficit in services narrowed year on year. In the first half of 2022, the trade deficit in services recorded USD 37.8 billion, a year-on-year decrease of 30%. To be specific, the travel deficit was USD 51.9 billion, up by 31% year on year, mainly due to the rebound in expenditures such as overseas study. The deficit in intellectual property royalties was USD 15.9 billion, basically unchanged from the same period of 2021. Both revenue and expenditure on intellectual property royalties increased, reflecting the mutual benefit from China’s efforts to expand international cooperation in the field of intellectual property. The deficit in transportation registered USD 2.2 billion, a year-on-year decrease of 89%, as revenue from transportation services grew faster than expenditure. The surplus in telecommunications, computer and information services was USD 9.1 billion, up by 1.2 times year on year, reflecting that the digital transformation of the service sector has injected new momentum into the development of China’s service trade. Third, China saw a relatively high level of net inflow in the direct investment. In the first half of 2022, the net inflow of foreign direct investments was USD 74.9 billion. The net inflow of direct investment to China reached USD 149.6 billion, showing that the Chinese market remained attractive to foreign capital. China’s outward direct investment (ODI) saw a net outflow of USD 74.7 billion, which was generally in a stable and orderly manner. In general, China responded to efficiently coordinate epidemic prevention and control as well as economic and social development, and sustained its strong resilience, great potential and full of vitality in economy with its fundamentals of sound long-term growth unchanged, which will be helpful for China to remain an equilibrium in its BOP. 2022-08-05/en/2022/0817/1989.html
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Q: The State Administration of Foreign Exchange (SAFE) has just released the latest data regarding China’s foreign exchange reserves. Could you explain the causes for the changes in foreign exchange reserves of July 2022? What will be the future trends? A: By the end of July 2022, China’s foreign exchange reserves stood at USD 3.1041 trillion, up by USD 32.8 billion, or 1.07%, from the end of June. In July 2022, China’s foreign exchange market was stable, and the domestic supply and demand of foreign exchange maintained in basic balance. In the international financial market, influenced by the monetary policies, global economic growth prospects, inflation expectations and other factors of major countries, the US dollar index rose and the financial asset prices in the world generally increased. Denominated in the US dollar, China’s foreign exchange reserves rose this month due to the combined effects of non-US dollar currency translation and asset price changes. At present, the global economic situation is full of challenges. Instability and uncertainties have increased significantly and the international financial market is highly volatile. However, China responded to efficiently coordinate epidemic prevention and control as well as economic and social development, and sustained its strong resilience, great potential and full of vitality in economy with its fundamentals of sound long-term growth unchanged, which will support the overall stability of the foreign exchange reserves. 2022-08-07/en/2022/0807/1990.html
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Q: The State Administration of Foreign Exchange (SAFE) has just released the latest data regarding China’s foreign exchange reserves. Could you explain the causes for the changes in foreign exchange reserves of August 2022? What will be the future trends? A: By the end of August 2022, China’s foreign exchange reserves stood at USD 3.0549 trillion, down by USD 49.2 billion, or 1.58%, from the end of July. In August, China’s cross-border capital flows were in a rational and orderly way, and the domestic supply and demand of foreign exchange maintained in basic balance. In the international financial market, influenced by factors like monetary policy expectations and macroeconomic data of major countries, the US dollar index rose and the financial asset prices in the world generally fell. China’s foreign exchange reserves declined this month due to the combined effects of currency translation and asset price changes. At present, with the external environment becoming more volatile and severe, the downward pressure on the global economy is mounting and the international financial market is highly volatile. However, China has continued to implement the efficient coordinated epidemic prevention and control as well as economic and social development. China’s in-depth implementation of a package of policies to support the economy has kept the economy operating within an appropriate range, which is conducive to the overall stability of the foreign exchange reserves. 2022-09-07/en/2022/0907/1995.html
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According to the statistics of the State Administrationof Foreign Exchange (SAFE), the Chinese foreign exchange market (excludingforeign currency pairs, the same below) recorded total transactions of RMB 24.39 trillion (equivalent to USD 3.59 trillion) in August 2022. In terms of markets, the transactions volume of clientmarket was RMB 3.51 trillion(equivalent to USD 0.52 trillion), and the transactions volume of interbankmarket was RMB 20.88 trillion(equivalent to USD 3.07 trillion). Interms of products, the cumulative transactions volume of the spot market wasRMB 9.32 trillion (equivalent to USD 1.37 trillion), and that of the derivatives market was RMB 15.08 trillion (equivalent to USD 2.22 trillion). From January to August 2022, a total of RMB 156.85 trillion (equivalent to USD 23.92 trillion) was traded in the Chinese foreign exchangemarket. 2022-09-30/en/2022/0823/1993.html
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China Balance of Payment Report(First half of 2020) 2022-08-11/en/2022/0811/1987.html
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In February 2023, the export and import of China’s international trade in goods and services totalled RMB 3324.6 billion, up 10 percent over the same time last year. Of this, the export of goods recorded RMB 1539.3 billion and the import recorded RMB 1328.4 billion, resulting in a surplus of RMB 210.9 billion. The export of services recorded RMB 178.2 billion and the import recorded RMB 278.7 billion, resulting in a deficit of RMB 100.4 billion. In terms of the major items, the export and import of transport, travel, other business services, telecommunications, computer and information services registered RMB 143.1 billion, RMB 100.3 billion, RMB 89.1 billion and RMB 56.6 billion respectively. In the US dollar terms, in February 2023, the export and import of China’s international trade in goods and services were USD 251.5 billion and USD 235.3 billion respectively, with a surplus of USD 16.2 billion. (End) International Trade in Goods and Services of China February 2023 Item In 100 million of RMB In 100 million of USD Goods and services 1105 162 Credit 17176 2515 Debit -16071 -2353 1. Goods 2109 309 Credit 15393 2254 Debit -13284 -1945 2. Services -1004 -147 Credit 1782 261 Debit -2787 -408 2.1Manufacturing services on physical inputs owned by others 61 9 Credit 66 10 Debit -4 -1 2.2Maintenance and repair services n.i.e 20 3 Credit 46 7 Debit -26 -4 2.3Transport -417 -61 Credit 507 74 Debit -924 -135 2.4Travel -884 -129 Credit 59 9 Debit -944 -138 2.5Construction 33 5 Credit 65 10 Debit -33 -5 2.6Insurance and pension services -44 -6 Credit 20 3 Debit -64 -9 2.7Financial services 4 1 Credit 26 4 Debit -22 -3 2.8Charges for the use of intellectual property -142 -21 Credit 66 10 Debit -208 -30 2.9Telecommunications, computerand information services 106 15 Credit 336 49 Debit -230 -34 2.10Other business services 257 38 Credit 574 84 Debit -317 -46 2.11Personal, cultural, and recreational services -3 0 Credit 8 1 Debit -11 -2 2.12Government goods and services n.i.e 5 1 Credit 9 1 Debit -4 -1 Notes: 1. The trade in goods and services in this table refers to the transactions between residents and non-residents, based on the same standard as that for BOP statement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement. 2. The data on international trade in goods and services are prepared in USD, and the RMB data for the current month is derived by converting the USD data at the monthly average central parity rate of the RMB against the USD. 3. This table employs rounded-off numbers. Definition of Indicators: Goods and Services: refers to the trade in goods and services between residents and non-residents, which is based on the same standard as that for the BOP statement. 1. Goods: refers to transactions in goods whereby the economic ownership is transferred between the Chinese residents and non-residents. The credit side records export of goods, while the debit side records import of goods. The data of goods account are mainly from the customs statistics of imports and exports, but differ from the statistics of the customs mainly in the following aspects: first, the goods in the BOP statement only reflect the goods whose ownership has been transferred (e.g. goods under the trade modes such as general trade and processing trade with imported materials), while the goods whose ownership is not transferred (e.g. manufacturing services with supplied materials or with exported materials) are included in the statistics of trade in services instead of the statistics of trade in goods; second, as required by the BOP statistics, the goods imported and exported are valued on the FOB basis, but as required by the customs, the goods exported are valued on the FOB basis, whereas goods imported are on the CIF basis. Therefore, for the purpose of the BOP statistics, the international transport and insurance premiums are taken out from the value of imported goods and included in the trade in services; and third, the data on net export of goods in merchanting which are not included in the customs statistics are supplemented. 2. Services: includes manufacturing services on physical inputs owned by others, maintenance and repair services n.i.e, transport, travel, construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received. 2.1 Manufacturing services on physical owned by others: processor only provides processing, assembly, packaging and other services and charges service fee from the owner, while the ownership of the goods is not transferred between the owner and the processor. The credit side records the manufacturing services supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa for debit side. 2.2 Maintenance and repair services: refer to the maintenance and repair services supplied by residents to non-residents or vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side records the maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.3 Transport: refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postal and delivery services. The credit side records the international transport, postal and delivery services supplied by residents to non-residents, and vice versa for debit side. 2.4 Travel: refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for indefinite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents. 2.5 Construction services: refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation, assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents. 2.6 Insurance and pension services: refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.7 Financial services: refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.8 Charges for the use of intellectual property: refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or prototypes. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.9 Telecommunications, computer and information services: refer tocommunications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents to non-residents, and vice versa for debit side. 2.10 Other business services: refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services, technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.11 Personal, cultural and recreational services: refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films, radio, television programs and music recordings) and other personal, cultural and recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.12 Government goods and services n.i.e: refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side. 2023-03-31/en/2023/0331/2062.html
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As at the end of 2022,China recorded RMB 17.0825 trillion in outstanding external debt denominated in both domestic and foreign currencies (equivalent to USD 2452.8 billion, excluding those of Hong Kong SAR, Macao SAR, and Taiwan Province of China, the same below). In terms of maturity structure, the outstanding medium-and long-term external debt was RMB 7764.1billion (equivalent to USD 1114.8 billion),accounting for 45 percent; while the outstanding short-term external debt was RMB 9318.4 billion (equivalent to USD 1338 billion),taking up 55 percent, of which 38 percent was trade-related credit. In terms of institutional sectors, the outstanding debt of general government totaled RMB 3038.5 billion(equivalent to USD 436.3 billion), accounting for 18 percent；the outstanding debt of the central bank totaled RMB 567.3 billion(equivalent to USD 81.5 billion), accounting for 3 percent；the outstanding debt of banks totaled RMB 7036.7 billion (equivalent to USD 1010.4 billion), accounting for 41 percent；the outstanding debt of other sectors (including inter-company lending under direct investments) totaled RMB 6440 billion(equivalent to USD 924.7 billion), accounting for 38 percent. In terms of debt instruments, the balance of loans was RMB 2768.7 billion (equivalent to USD 397.5 billion), accounting for 16 percent;the outstanding trade credits and advances was RMB 2664.6 billion (equivalent to USD 382.6 billion), accounting for 16 percent;the outstanding currency and deposits was RMB 3556.4 billion (equivalent to USD 510.6 billion), accounting for 21 percent;the outstanding debt securities was RMB 5094.5 billion (equivalent to USD 731.5 billion), accounting for 30 percent;the Special Drawing Rights (SDR) allocation amounted to RMB 335.6 billion (equivalent to USD 48.2 billion), accounting for 2 percent; the balance of inter-company lending under direct investments totaled RMB 2149.4 billion (equivalent to USD 308.6 billion),accounting for 12 percent;and the balance of other debt liabilities was RMB 513.3 billion (equivalent to USD 73.7 billion), accounting for 3 percent. With respect to currency structures, the outstanding external debt in domestic currency totaled RMB 7628 billion (equivalent to USD 1095.3 billion), accounting for 45 percent;the outstanding external debt in foreign currencies (including SDR allocation) totaled RMB 9454.5 billion (equivalent to USD 1357.5 billion), accounting for 55 percent. In the outstanding registered external debt in foreign currencies, the USD debt accounted for 85 percent, the Euro debt accounted for 7 percent, the HKD debt accounted for 4 percent, the JPY debt accounted for 1 percent, the SDR and other foreign currency-denominated external debt accounted for 3 percent. As at the end of 2022，the liability ratio was 13.6 percent, the debt ratio was 66 percent, the debt servicing ratio was 10.5 percent, and the ratio of short-term external debt to foreign exchange reserves was 42.8 percent. China’s major external debt indicators were all within the internationally recognized thresholds, indicating that the external debt risk is controllable. Appendix Definition of terms and interpretations External debt classification by maturity structure. There are two methods to classify the external debt by maturity structure. One is on the basis of the contractual maturity, i.e. it is classified as medium- and long-term external debt if the contractual maturity is over one year, and classified as short-term external debt if the contractual maturity is one year or less;the other is on the basis of the remaining maturity, i.e., on the basis of the contractual maturity classification method above, the medium- and long-term external debt due within one year is classified as short-term external debt. In this news release, external debt is divided into medium- and long-term external debt and short-term external debt based on the contractual maturity. Trade-related credit is a broad concept. In addition to trade credit and advances, it also involves other kinds of credit provided for trade activities. According to its definition,trade-related credit includes trade credit and advances, bank trade financing, trade related bills, and so forth. In particular, trade credit and advances refer to external liability arising from directly extending credit between the seller and buyer of goods transactions,specifically transactions between residents in the Chinese Mainland and overseas non-residents (including non-residents in Hong Kong SAR, Macao SAR,and Taiwan Province of China), i.e., the debt incurred due to the difference between the time of payment and the time of the goods ownership transfer, which include credit directly provided by the supplier (e.g., the overseas exporter)for goods and services, and prepayments made by buyers (e.g., overseas importers) for goods, services, and work that is in progress (or work to be undertaken). Bank trade financing refers to trade related loans that offered by a third party (e.g., banks) to exporters or importers, for instance, loans extended by foreign financial institutions or export credit agencies to buyers. Liability ratio refers to the ratio of outstanding external debt as of the end of the year to the GDP for the year. Debt ratio refers to the ratio of the outstanding external debt as of the end of the year to the export revenue from trade in goods and services for the year. Debt servicing ratio refers to the ratio of the repayment of the principal and payment of interest on external debt for the year (the sum of the repayment of the principal and payment of interest on medium- and long-term external debt and the payment of the interest of short-term external debt) to the export revenue from trade in goods and services for the year. The internationally recognized thresholds for external debt risk indicators - liability ratio, debt ratio, debt servicing ratio and ratio of short-term external debt to foreign exchange reserves are 20 percent,100 percent, 20 percent and 100 percent respectively. Annexed table：China’s Gross External Debt Position by Sector, End of 2022 End of 2022 End of 2022 （Unit:100 million RMB） （Unit:100 million US dollars） General Government 30385 4363 Short-term 2470 355 Currency and deposits 0 0 Debt securities 2470 355 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 0 0 Long-term 27914 4008 Special drawing rights (allocations) 0 0 Currency and deposits 0 0 Debt securities 24176 3471 Loans 3738 537 Trade credit and advances 0 0 Other debt liabilities 0 0 Central Bank 5673 815 Short-term 2043 293 Currency and deposits 1315 189 Debt securities 728 105 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 0 0 Long-term 3631 521 Special drawing rights (allocations) 3356 482 Currency and deposits 0 0 Debt securities 0 0 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 275 39 Other Depository Corporations 70367 10104 Short-term 53880 7736 Currency and deposits 34235 4916 Debt securities 4565 656 Loans 14653 2104 Trade credit and advances 0 0 Other debt liabilities 426 61 Long-term 16488 2367 Currency and deposits 0 0 Debt securities 12529 1799 Loans 3881 557 Trade credit and advances 0 0 Other debt liabilities 78 11 Other Sectors 42906 6161 Short-term 29723 4268 Currency and deposits 14 2 Debt securities 115 16 Loans 1795 258 Trade credit and advances 26180 3759 Other debt liabilities 1619 232 Long-term 13183 1893 Currency and deposits 0 0 Debt securities 6362 913 Loans 3620 520 Trade credit and advances 466 67 Other debt liabilities 2735 393 Direct Investment: Intercompany Lending 21494 3086 Debt liabilities of direct investment enterprises to direct investors 11878 1705 Debt liabilities of direct investors to direct investment enterprises 1292 185 Debt liabilities to fellow enterprises 8325 1195 Gross External Debt Position 170825 24528 Notes: 1. The short-term and long-term herein are broken down by contractual (original) maturity. 2. The data in this table have been rounded off. 2023-03-31/en/2023/0330/2061.html
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As at the end of 2022, China’s external financial assets reached USD 9258.0 billion, external financial liabilities reached USD 6726.7 billion, and net external assets totaled USD 2531.3 billion. In the external financial assets, direct investment assets amounted to USD 2795.0 billion, portfolio investment assets, USD 1033.5 billion, financial derivative assets, USD 30.4 billion, other investment assets, USD 2092.5 billion, and reserve assets, USD 3306.5 billion, accounting for 30 percent, 11 percent, 0.3 percent, 23 percent and 36 percent of external financial assets respectively. In external liabilities, direct investment liabilities were USD 3495.6 billion, portfolio investment liabilities, USD 1781.0 billion, financial derivative liabilities, USD 18.3 billion and other investment liabilities, USD 1431.8 billion, accounting for 52 percent, 26 percent, 0.3 percent and 21 percent of the external financial liabilities respectively. In SDR terms, China’s external financial assets and liabilities reached SDR 6956.5 billion and SDR 5054.4 billion respectively, and external net assets totaled SDR 1902.1 billion at the end of 2022. The SAFE has revised the IIP data for each quarter since 2021 according to the latest data and released it through the section of "Data and Statistics" at the official website of the SAFE. In addition, in order to facilitate understanding of the data of Balance of Payments and International Investment Position among all data users, the BOP Analysis Team of the SAFE released China's Balance of Payments Report 2022. (End) China's International Investment Position, End of 2022 Item Line No. Position in 100 million USD Position in 100 million SDR Net Position 1 25313 19021 Assets 2 92580 69565 1 Direct Investment 3 27950 21002 1.1 Equity and Investment Fund Shares 4 24307 18265 1.2 Debt Instruments 5 3643 2738 1.a Financial Sectors 6 3912 2939 1.1.a Equity and Investment Fund Shares 7 3692 2774 1.2.a Debt Instruments 8 220 165 1.b Non-financial Sectors 9 24039 18063 1.1.b Equity and Investment Fund Shares 10 20615 15491 1.2.b Debt Instruments 11 3423 2572 2 Portfolio Investment 12 10335 7766 2.1 Equity and Investment Fund Shares 13 5902 4435 2.2 Debt Securities 14 4433 3331 3 Financial Derivatives (other than reserves) and Employee Stock Options 15 304 229 4 Other Investment 16 20925 15723 4.1 Other Equity 17 97 73 4.2 Currency and Deposits 18 5140 3862 4.3 Loans 19 8397 6309 4.4 Insurance, Pension, and Standardized Guarantee Schemes 20 261 196 4.5 Trade Credit and Advances 21 6176 4641 4.6 Others 22 854 641 5 Reserve Assets 23 33065 24845 5.1 Monetary Gold 24 1172 881 5.2 Special Drawing Rights 25 512 384 5.3 Reserve Position in the IMF 26 108 81 5.4 Foreign Currency Reserves 27 31277 23502 5.5 Other Reserve Assets 28 -4 -3 Liabilities 29 67267 50544 1 Direct Investment 30 34956 26266 1.1 Equity and Investment Fund Shares 31 31686 23809 1.2 Debt Instruments 32 3270 2457 1.a Financial Sectors 33 1986 1492 1.1.a Equity and Investment Fund Shares 34 1739 1306 1.2.a Debt Instruments 35 247 186 1.b Non-financial Sectors 36 32970 24774 1.1.b Equity and Investment Fund Shares 37 29947 22502 1.2.b Debt Instruments 38 3023 2271 2 Portfolio Investment 39 17810 13382 2.1 Equity and Investment Fund Shares 40 11243 8448 2.2 Debt Securities 41 6567 4935 3 Financial Derivatives (other than reserves) and Employee Stock Options 42 183 138 4 Other Investment 43 14318 10759 4.1 Other Equity 44 0 0 4.2 Currency and Deposits 45 5269 3959 4.3 Loans 46 4031 3029 4.4 Insurance, Pension, and Standardized Guarantee Schemes 47 267 201 4.5 Trade Credit and Advances 48 3826 2875 4.6 Others 49 443 333 4.7 Special Drawing Rights 50 482 362 Notes:1. This table employs rounded-off numbers. 2.Net International Investment Position refers to assets minus liabilities. Positive figure refers to net assets, and negative figure refers to net liabilities. 3.The SDR denominated data is converted from the USD denominated data, using the exchange rate of SDR against USD at the end of the quarter. 4.The IIP data is revised regularly; please find the latest data in “Data and Statistics”. 2023-03-31/en/2023/0331/2063.html