In the fourth quarter of 2011 the current account posted a surplus whereas the capital and financial account posted a deficit. International reserves maintained a growing momentum. The surplus under the current account totaled USD60.5 billion. Specifically, according to the statistical coverage of the balance of payments, the surpluses in goods, income, and current transfers reached USD70.6 billion, USD2.7 billion, and USD2.3 billion, respectively, whereas the deficit in trade in services amounted to USD15.2 billion. Meanwhile, China ’s deficit under the capital and financial account totaled USD29 billion. In particular, net inflows of direct investments, portfolio investments, and net outflows of other investments amounted to USD49 billion, USD1.3 billion, and USD80.5 billion respectively. International reserves registered an increase of USD12.4 billion (exclusive of changes in the value of non-transaction factors such as exchange rates and prices). Specifically, foreign exchange reserve assets posted an increase of USD11.7 billion.

For the year 2011, the surplus under the current account was USD201.7 billion and the surplus under the capital and financial account was USD221.1 billion, whereas international reserves registered an increase of USD387.8 billion.

In addition, the BOP Analysis Team of the SAFE released China ’s Balance of Payments Report for 2011 in order to facilitate understanding among all groups in society about the data and analysis of China ’s balance of payments.