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- Index number:
- 000014453-2019-0300
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- Dispatch date:
- 2019-09-27
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- Publish organization:
- State Administration of Foreign Exchange
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- Exchange Reference number：
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- Name：
- SAFE Releases China's Balance of Payments for the Second Quarter and the First Half of 2019
In the second quarter of 2019, China's current account registered a surplus of RMB 314.6 billion, and the capital and financial accounts recorded a surplus of RMB 145.6 billion.The financial account (excluding reserve assets) recorded a surplus of RMB 94.1 billion, and reserve assets declined by RMB 51.9 billion.
In the first half of 2019, China's current account registered a surplus of RMB 598.4 billion, and the capital and financial accounts recorded a surplus of RMB 291.2 billion. The financial account (excluding reserve assets) recorded a surplus of RMB 307.5 billion, and reserve assets rose by RMB15.7 billion.
In the US dollar terms, in the second quarter of 2019, China's current account recorded a surplus of USD 46.2 billion, including a surplus of USD 120.6 billion under trade in goods, a deficit of USD 65.8 billion under trade in services, a deficit of USD 11.9 billion under primary income, and a surplus of USD 3.3 billion under secondary income. The capital and financial accounts recorded a surplus of USD 21.4 billion, including a deficit of USD 60 million under the capital account, a surplus of USD 13.8 billion under the financial account (excluding reserve assets), and a decline of USD 7.6 billion under reserves assets.
In the US dollar terms, in the first half of 2019, China's current account recorded a surplus of USD 88.2 billion, including a surplus of USD 208.4 billion under trade in goods, a deficit of USD 129.3 billion under trade in services, a surplus of USD 3.7 billion under primary income, and a surplus of USD 5.4 billion under secondary income. The capital and financial accounts recorded a surplus of USD 43.0 billion, including a deficit of USD 0.1 billion under the capital account, a surplus of USD 45.4billion under the financial account (excluding reserve assets), and an increase of USD 2.4 billion under reserves assets.
In SDR terms, in the second quarter of 2019,China posted a surplus of SDR 33.3 billion under the current account, and a surplus of SDR 15.4 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a surplus of SDR 10 billion, and reserves assets decreased by SDR 5.5 billion.
In SDR terms, in the first half of 2019,China posted a surplus of SDR 63.6 billion under the current account, and a surplus of SDR 30.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a surplus of SDR 32.7 billion, and an increase of SDR 1.7 billion under reserves assets.
In addition, to facilitate understanding of China’s Balance of Payments and International Investment Position among all users, the BOP Analysis Team of SAFE released China’s Balance of Payments Report for the First Half of 2019（in Chinese）. (End)
Abridged Balanceof Payments of China, Second Quarter of 2019
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 3,146 | 462 | 333 |
Credit | 2 | 50,246 | 7,374 | 5,325 |
Debit | 3 | -47,101 | -6,913 | -4,992 |
1. A Goods and Services | 4 | 3,733 | 548 | 396 |
Credit | 5 | 45,563 | 6,687 | 4,829 |
Debit | 6 | -41,830 | -6,139 | -4,433 |
1.A.a Goods | 7 | 8,218 | 1,206 | 871 |
Credit | 8 | 41,532 | 6,095 | 4,402 |
Debit | 9 | -33,314 | -4,889 | -3,531 |
1.A.b Services | 10 | -4,486 | -658 | -475 |
Credit | 11 | 4,031 | 592 | 427 |
Debit | 12 | -8,516 | -1,250 | -903 |
1.B Primary Income | 13 | -810 | -119 | -86 |
Credit | 14 | 4,215 | 619 | 447 |
Debit | 15 | -5,026 | -738 | -533 |
1.C Secondary Income | 16 | 223 | 33 | 24 |
Credit | 17 | 468 | 69 | 50 |
Debit | 18 | -245 | -36 | -26 |
2. Capital and Financial Account | 19 | 1,456 | 214 | 154 |
2.1 Capital Account | 20 | -4 | -1 | 0 |
Credit | 21 | 2 | 0 | 0 |
Debit | 22 | -6 | -1 | -1 |
2.2 Financial Account | 23 | 1,460 | 214 | 155 |
Assets | 24 | -2,914 | -428 | -309 |
Liabilities | 25 | 4,374 | 642 | 464 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | 941 | 138 | 100 |
2.2.1.1 Direct Investment | 27 | 587 | 86 | 62 |
Assets | 28 | -1,750 | -257 | -186 |
Liabilities | 29 | 2,337 | 343 | 248 |
2.2.1.2 Portfolio Investment | 30 | 244 | 36 | 26 |
Assets | 31 | -1,555 | -228 | -165 |
Liabilities | 32 | 1,799 | 264 | 191 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | 66 | 10 | 7 |
Assets | 34 | 169 | 25 | 18 |
Liabilities | 35 | -103 | -15 | -11 |
2.2.1.4 Other Investment | 36 | 45 | 7 | 5 |
Assets | 37 | -296 | -43 | -31 |
Liabilities | 38 | 341 | 50 | 36 |
2.2.2 Reserve Assets | 39 | 519 | 76 | 55 |
3. Net Errors and Omissions | 40 | -4,601 | -675 | -488 |
Notes:
1.The statement is compiled according to BPM6. Reserve assets are included in capital and financial accounts.
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 balance,unless marked with "Credit" or "Debit".
3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data,using quarterly average central parity rate of RMB against USD. The quarterly accumulated RMB denominated BOP data is derived from the sum total of the RMB denominated data for the quarters.
4.The SDR denominated quarterly BOP data is converted from the USD denominated BOP data,using quarterly average exchange rate of SDR against USD. The quarterly accumulated SDRdenominated BOP data is derived from the sum total of the SDR denominated data for the quarters.
5.This statement employs rounded-off numbers.
6.For detailed data, please see “Data and Statistics” at the website of SAFE.
Abridged China’s Balance of Payments, First Half of 2019
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 5,984 | 882 | 636 |
Credit | 2 | 95,651 | 14,104 | 10,158 |
Debit | 3 | -89,666 | -13,222 | -9,523 |
1. A Goods and Services | 4 | 5,372 | 791 | 570 |
Credit | 5 | 86,034 | 12,686 | 9,137 |
Debit | 6 | -80,663 | -11,895 | -8,567 |
1.A.a Goods | 7 | 14,138 | 2,084 | 1,501 |
Credit | 8 | 77,994 | 11,500 | 8,283 |
Debit | 9 | -63,856 | -9,416 | -6,782 |
1.A.b Services | 10 | -8,766 | -1,293 | -931 |
Credit | 11 | 8,040 | 1,186 | 854 |
Debit | 12 | -16,806 | -2,479 | -1,785 |
1.B Primary Income | 13 | 244 | 37 | 26 |
Credit | 14 | 8,740 | 1,289 | 928 |
Debit | 15 | -8,496 | -1,252 | -902 |
1.C Secondary Income | 16 | 369 | 54 | 39 |
Credit | 17 | 877 | 129 | 93 |
Debit | 18 | -508 | -75 | -54 |
2. Capital and Financial Account | 19 | 2,912 | 430 | 309 |
2.1 Capital Account | 20 | -6 | -1 | -1 |
Credit | 21 | 8 | 1 | 1 |
Debit | 22 | -14 | -2 | -1 |
2.2 Financial Account | 23 | 2,918 | 430 | 310 |
Assets | 24 | -5,152 | -759 | -547 |
Liabilities | 25 | 8,070 | 1,190 | 857 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | 3,075 | 454 | 327 |
2.2.1.1 Direct Investment | 27 | 2,378 | 352 | 253 |
Assets | 28 | -3,170 | -467 | -337 |
Liabilities | 29 | 5,548 | 819 | 589 |
2.2.1.2 Portfolio Investment | 30 | 1,557 | 230 | 166 |
Assets | 31 | -2,647 | -390 | -281 |
Liabilities | 32 | 4,205 | 621 | 447 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | 4 | 1 | 0 |
Assets | 34 | 116 | 17 | 12 |
Liabilities | 35 | -112 | -16 | -12 |
2.2.1.4 Other Investment | 36 | -864 | -128 | -92 |
Assets | 37 | 706 | 105 | 75 |
Liabilities | 38 | -1,570 | -233 | -167 |
2.2.2 Reserve Assets | 39 | -157 | -24 | -17 |
3. Net Errors and Omissions | 40 | -8,896 | -1,312 | -945 |
Notes:
1.The statement is compiled according to BPM6. Reserve assets are included in capital and financial accounts.
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 balance, unless marked with "Credit" or "Debit".
3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data, using quarterly average central parity rate of RMB against USD. The quarterly accumulated RMB denominated BOP data is derived from the sum total of the RMB denominated data for the quarters.
4.The SDR denominated quarterly BOP data is converted from the USD denominated BOP data, using quarterly average exchange rate of SDR against USD. The quarterly accumulated SDR denominated BOP data is derived from the sum total of the SDR denominated data for the quarters.
5.This statement employs rounded-off numbers.
6.For detailed data, please see “Data and Statistics” at the website of SAFE.
