ChineseEnglish
    SAFE News
    • Index number:
      000014453-2019-0232
    • Dispatch date:
      2010-04-19
    • Publish organization:
      State Administration of Foreign Exchange
    • Exchange Reference number:
    • Name:
      China's Balance of Payments Continues to Post a Twin Surplus in 2009
    China's Balance of Payments Continues to Post a Twin Surplus in 2009


    The SAFE recently released revised data for China's 2009 Balance of Payments Statement. The statistics reveal that the current account and the capital and financial account continued to post a "twin surplus" in 2009.
    In 2009, China's surplus under the current account totaled USD 297.1 billion, a decrease of 32 percent compared with that of the previous year. Specifically, according to the statistical coverage of the balance of payments, the surpluses in goods, income, and current transfers reached USD 249.5 billion, USD 43.3 billion, and USD 33.7 billion, respectively, whereas the deficit in services amounted to USD 29.4 billion.
    In 2009, the surplus under the capital and financial account totaled USD 144.8 billion, a 6.64-fold increase over that in the previous year. In particular, net inflows of direct investments, portfolio investments, and other investments amounted to USD 34.3 billion, USD 38.7 billion, and USD 67.9 billion respectively.
    China's international reserves assets from transactions increased by USD 398.4 billion. Specifically, foreign exchange reserves assets registered a net increase of USD 382.1 billion (exclusive of the influence of the change in the value of non-transaction factors such as the exchange rates, prices, and so forth), whereas special drawing rights, the reserve position in the IMF, and monetary gold posted increases of USD 11.1 billion, USD 0.4 billion, and USD 4.9 billion respectively.
    Following the release of these data, in compliance with international conventions data on the foreign exchange reserves assets in Chinas Balance of Payments Statement will only record changes in transactions; changes in the value of the reserves assets due to non-transaction factors, such as exchange rates and prices, will be reflected in the International Investment Position.  The SAFE has made retroactive adjustments to the data in the Balance of Payments Statements since 2003 according to the above specifications and is releasing them simultaneously with this statement (see the attachment).
    In addition, the BOP Analysis Team of the SAFE released China's Balance of Payments Report for 2009 in order to facilitate an understanding of the data and analysis of China's balance of payments among all groups in the society.

    China's Balance of Payments Statement

    2009

     

     

     

    Unit: USD 100 million

    Items

    #

    Balance

    Credit

    Debit

    I. Current Account

    1

    2,971

    14,846

    11,874

     A. Goods and Services

    2

    2,201

    13,333

    11,132

      a. Goods

    3

    2,495

    12,038

    9,543

      b. Services

    4

    -294

    1,295

    1,589

       1.Transportation

    5

    -230

    236

    466

       2.Travel

    6

    -40

    397

    437

       3.Communications Services

    7

    0

    12

    12

       4.Construction Services

    8

    36

    95

    59

       5.Insurance Services

    9

    -97

    16

    113

       6.Financial Services

    10

    -3

    4

    7

       7.Computer and Information Services

    11

    33

    65

    32

       8.Royalties and Licensing Fees

    12

    -106

    4

    111

       9.Consulting Services

    13

    52

    186

    134

      10.Advertising and Public Opinion Polling

    14

    4

    23

    20

      11.Audio-visual and Related Services

    15

    -2

    1

    3

      12. Other Business Services

    16

    59

    247

    188

      13. Government Services, n.i.e.

    17

    1

    9

    8

      B. Income

    18

    433

    1,086

    653

       1.Employee Compensation

    19

    72

    92

    21

       2.Investment Income

    20

    361

    994

    632

      C. Current Transfers

    21

    337

    426

    89

        1.General Government

    22

    -2

    0

    3

        2.Other Sectors

    23

    340

    426

    86

    II. Capital and Financial Account

    24

    1,448

    7,464

    6,016

      A. Capital Account

    25

    40

    42

    2

      B. Financial Account

    26

    1,409

    7,422

    6,014

       1. Direct Investment

    27

    343

    1,142

    799

        1.1 Abroad

    28

    -439

    42

    481

        1.2 In China

    29

    782

    1,100

    318

       2. Portfolio Investment

    30

    387

    981

    594

        2.1 Assets

    31

    99

    669

    570

         2.1.1 Equity Securities

    32

    -338

    122

    461

         2.1.2 Debt Securities

    33

    437

    547

    110

         2.1.2.1 Bonds and Notes

    34

    370

    479

    110

         2.1.2.2 Money Market Instruments

    35

    67

    68

    0

        2.2 Liabilities

    36

    288

    312

    24

         2.2.1 Equity Securities

    37

    282

    288

    7

         2.2.2 Debt Securities

    38

    6

    23

    17

          2.2.2.1 Bonds and Notes

    39

    6

    23

    17

          2.2.2.2 Money Market Instruments

    40

    0

    0

    0

        3. Other Investment

    41

    679

    5,299

    4,620

         3.1 Assets

    42

    94

    1,174

    1,080

          3.1.1 Trade Credits

    43

    -544

    0

    544

    Long-term

    44

    -38

    0

    38

    Short-term

    45

    -506

    0

    506

          3.1.2 Loans

    46

    130

    450

    320

    Long-term

    47

    -315

    0

    315

    Short-term

    48

    445

    450

    5

          3.1.3 Currency and Deposits

    49

    52

    267

    216

          3.1.4 Other Assets

    50

    456

    457

    1

    Long-term

    51

    0

    0

    0

    Short-term

    52

    456

    457

    1

        3.2 Liabilities

    53

    585

    4,125

    3,540

         3.2.1 Trade Credits

    54

    321

    321

    0

     Long-term

    55

    22

    22

    0

     Short-term

    56

    298

    298

    0

         3.2.2 Loans

    57

    37

    3,222

    3,185

    Long-term

    58

    -97

    135

    232

    Short-term

    59

    134

    3,087

    2,953

         3.2.3 Currency and Deposits

    60

    116

    456

    340

         3.2.4 Other Liabilities

    61

    111

    126

    15

    Long-term

    62

    110

    110

    0

    Short-term

    63

    1

    16

    15

    III. Reserves Assets

    64

    -3,984

    0

    3,984

       3.1 Monetary Gold

    65

    -49

    0

    49

       3.2 Special Drawing Rights

    66

    -111

    0

    111

       3.3 Reserves Position in the Fund

    67

    -4

    0

    4

       3.4 Foreign Exchange

    68

    -3,821

    0

    3,821

       3.5 Other Claims

    69

    0

    0

    0

    IV. Net Errors and Omissions

    70

    -435

    0

    435

    1. This statement employs rounded-off numbers.
    2. After this release, according to international convention, the SAFE has made adjustments to the methods for recording the reserves assets, i.e., only changes in reserves assets due to transactions will be recorded in the balance of payments statement, which will be exclusive of changes in the value of reserves assets due to non-transaction factors such as exchange rates and prices.




     

    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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