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- Index number:
- 000014453-2020-0042
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- Dispatch date:
- 2020-03-27
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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 Fourth Quarter and for the Year 2019
In the fourth quarter of 2019, China's current account registered a surplus of RMB 285.0 billion, and the capital and financial accounts recorded a surplus of RMB 155.0 billion. The financial account (excluding reserve assets) recorded a surplus of RMB 111.0 billion, and reserve assets decreased by RMB 44.0 billion.
In 2019, China's current account registered a surplus of RMB 976.8 billion, and the capital and financial accounts recorded a surplus of RMB 388.4 billion.The financial account ( excluding reserve assets) recorded a surplus of RMB 254.5 billion, and reserve assets decreased by RMB 136.2 billion.
In the US dollar terms, in the fourth quarter, China's current account recorded a surplus of USD 40.5 billion, including a surplus of USD 122.0 billion under trade in goods, a deficit of USD 59.4 billion under trade in services, a deficit of USD 24.7 billion under primary income and a surplus of USD 2.6 billion under secondary income. The capital and financial accounts registered a surplus of USD 22.0 billion, including a deficit of USD 2 million under the capital account, and a surplus of USD 15.8 billion under the financial account (excluding reserve assets), and reserves assets decreased by USD 6.3 billion.
In the US dollar terms, in 2019, China's current account recorded a surplus of USD 141.3 billion, including a surplus of USD 425.3 billion under trade in goods, a deficit of USD 261.1 billion under trade in services, a deficit of USD 33.0 billion under primary income and a surplus of USD 10.3 billion under secondary income. The capital and financial accounts recorded a surplus of USD 56.7 billion, including a deficit of USD 300 million under the capital account, a surplus of USD 37.8 billion under the financial account (excluding reserve assets), and reserves assets decreased by USD 19.3 billion.
In SDR terms, in the fourth quarter, China posted a surplus of SDR 29.5 billion under the current account, and a surplus of SDR 16.0 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a surplus of SDR 11.5 billion, and reserves assets decreased by SDR 4.5 billion.
In SDR terms, in 2019, China posted a surplus of SDR 102.4 billion underthe current account, and a surplus of SDR 40.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a surplus of SDR 27.1 billion, and reserves assets decreased by SDR 14.1 billion.
The SAFE has revised the BOP data for each quarter since 2018 according to the latest data and released it through the section of "Data andStatistics" at the official website of the SAFE.
In addition, in order to facilitate understanding of the data of Balance of Payments among all social groups, the BOP Analysis Team of the SAFE released China’s Balance of Payments Report 2019. (End)
AbridgedBalance of Payments, Q4 2019
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 2,850 | 405 | 295 |
Credit | 2 | 53,943 | 7,672 | 5,579 |
Debit | 3 | -51,093 | -7,266 | -5,284 |
1. A Goods and Services | 4 | 4,402 | 626 | 455 |
Credit | 5 | 50,246 | 7,146 | 5,196 |
Debit | 6 | -45,845 | -6,520 | -4,741 |
1.A.a Goods | 7 | 8,578 | 1,220 | 887 |
Credit | 8 | 45,608 | 6,486 | 4,717 |
Debit | 9 | -37,030 | -5,266 | -3,830 |
1.A.b Services | 10 | -4,176 | -594 | -432 |
Credit | 11 | 4,639 | 660 | 480 |
Debit | 12 | -8,814 | -1,254 | -912 |
1.B Primary Income | 13 | -1,736 | -247 | -180 |
Credit | 14 | 3,238 | 461 | 335 |
Debit | 15 | -4,974 | -707 | -514 |
1.C Secondary Income | 16 | 184 | 26 | 19 |
Credit | 17 | 458 | 65 | 47 |
Debit | 18 | -274 | -39 | -28 |
2. Capital and Financial Account | 19 | 1,550 | 220 | 160 |
2.1 Capital Account | 20 | 0 | 0 | 0 |
Credit | 21 | 4 | 1 | 0 |
Debit | 22 | -4 | -1 | 0 |
2.2 Financial Account | 23 | 1,550 | 220 | 160 |
Assets | 24 | -4,305 | -612 | -445 |
Liabilities | 25 | 5,854 | 833 | 605 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | 1,110 | 158 | 115 |
2.2.1.1 Direct Investment | 27 | 1,971 | 280 | 204 |
Assets | 28 | -1,986 | -282 | -205 |
Liabilities | 29 | 3,957 | 563 | 409 |
2.2.1.2 Portfolio Investment | 30 | 1,048 | 149 | 108 |
Assets | 31 | -1,844 | -262 | -191 |
Liabilities | 32 | 2,892 | 411 | 299 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | -96 | -14 | -10 |
Assets | 34 | -84 | -12 | -9 |
Liabilities | 35 | -12 | -2 | -1 |
2.2.1.4 Other Investment | 36 | -1,812 | -258 | -187 |
Assets | 37 | -830 | -118 | -86 |
Liabilities | 38 | -983 | -140 | -102 |
2.2.2 Reserve Assets | 39 | 440 | 63 | 45 |
3. Net Errors and Omissions | 40 | -4,399 | -626 | -455 |
Notes:
1. Thestatement is compiled according to BPM6. Reserve assets are included in capitaland financial accounts.
2."Credit" is presented as positive value while "debit" asnegative value, and the difference is the sum of the "Credit" and the"Debit". All items herein refer to difference, unless marked with"Credit" or "Debit".
3. The RMBdenominated quarterly BOP data is converted from the USD denominated BOP datafor the quarter using the quarterly average middle rate of RMB against USD. Thequarterly accumulated RMB denominated BOP data is derived from the sum total ofthe RMB denominated data for the quarters.
4. The SDRdenominated quarterly BOP data is converted from the USD denominated BOP datafor the quarter using the quarterly average middle rate of SDR against USD. Thequarterly accumulated SDR denominated BOP data is derived from the sum total ofthe SDR denominated data for the quarters.
5. Thisstatement employs rounded-off numbers.
6. Fordetailed data, please see the section of “Dataand Statistics” atthe website of the SAFE.
Abridged Balance of Payments, 2019
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 9,768 | 1,413 | 1,024 |
Credit | 2 | 200,485 | 29,051 | 21,033 |
Debit | 3 | -190,717 | -27,638 | -20,009 |
1. A Goods and Services | 4 | 11,398 | 1,641 | 1,191 |
Credit | 5 | 182,470 | 26,434 | 19,140 |
Debit | 6 | -171,072 | -24,793 | -17,949 |
1.A.a Goods | 7 | 29,405 | 4,253 | 3,081 |
Credit | 8 | 165,612 | 23,990 | 17,371 |
Debit | 9 | -136,207 | -19,737 | -14,290 |
1.A.b Services | 10 | -18,007 | -2,611 | -1,890 |
Credit | 11 | 16,858 | 2,444 | 1,769 |
Debit | 12 | -34,864 | -5,055 | -3,659 |
1.B Primary Income | 13 | -2,336 | -330 | -241 |
Credit | 14 | 16,228 | 2,358 | 1,706 |
Debit | 15 | -18,565 | -2,688 | -1,947 |
1.C Secondary Income | 16 | 706 | 103 | 74 |
Credit | 17 | 1,787 | 259 | 188 |
Debit | 18 | -1,080 | -157 | -113 |
2. Capital and Financial Account | 19 | 3,884 | 567 | 409 |
2.1 Capital Account | 20 | -23 | -3 | -2 |
Credit | 21 | 15 | 2 | 2 |
Debit | 22 | -38 | -5 | -4 |
2.2 Financial Account | 23 | 3,907 | 570 | 412 |
Assets | 24 | -13,759 | -1,987 | -1,440 |
Liabilities | 25 | 17,665 | 2,558 | 1,852 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | 2,545 | 378 | 271 |
2.2.1.1 Direct Investment | 27 | 3,994 | 581 | 420 |
Assets | 28 | -6,744 | -977 | -707 |
Liabilities | 29 | 10,738 | 1,558 | 1,127 |
2.2.1.2 Portfolio Investment | 30 | 4,003 | 579 | 420 |
Assets | 31 | -6,181 | -894 | -648 |
Liabilities | 32 | 10,184 | 1,474 | 1,067 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | -165 | -24 | -17 |
Assets | 34 | 94 | 14 | 10 |
Liabilities | 35 | -259 | -37 | -27 |
2.2.1.4 Other Investment | 36 | -5,287 | -759 | -551 |
Assets | 37 | -2,290 | -323 | -236 |
Liabilities | 38 | -2,997 | -437 | -315 |
2.2.2 Reserve Assets | 39 | 1,362 | 193 | 141 |
3. Net Errors and Omissions | 40 | -13,652 | -1,981 | -1,433 |
Notes:
1. Thestatement is compiled according to BPM6. Reserve assets are included in capitaland financial accounts.
2."Credit" is presented as positive value while "debit" asnegative value, and the difference is the sum of the "Credit" and the"Debit". All items herein refer to difference, unless marked with"Credit" or "Debit".
3. The RMBdenominated quarterly BOP data is converted from the USD denominated BOP datafor the quarter using the quarterly average middle rate of RMB against USD. Thequarterly accumulated RMB denominated BOP data is derived from the sum total ofthe RMB denominated data for the quarters.
4. The SDRdenominated quarterly BOP data is converted from the USD denominated BOP datafor the quarter using the quarterly average exchange rate of SDR against USD.The quarterly accumulated SDR denominated BOP data is derived from the sumtotal of the SDR denominated data for the quarters.
5. Thisstatement employs rounded-off numbers.
6. Fordetailed data, please see the section of “Dataand Statistics” atthe website of the SAFE.
