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- Index number:
- 000014453-2021-0027
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- Dispatch date:
- 2021-03-26
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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 2020
In the fourth quarter of 2020, China's current account registered a surplus of RMB 817.7 billion, and the capital and financial accounts recorded a deficit of RMB 276.8 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 114.3 billion, and reserve assets increased by RMB 162.8 billion.
In 2020, China's current account registered a surplus of RMB 1870.9 billion, and the capital and financial accounts recorded a deficit of RMB 726.6 billion.The financial account (excluding reserve assets) recorded a deficit of RMB 538.3 billion, and reserve assets increased by RMB 187.8 billion.
In the US dollar terms, in the fourth quarter, China's current account recorded a surplus of USD 123.8 billion, including a surplus of USD 188.6 billion under trade in goods, a deficit of USD 28.5 billion under trade in services, a deficit of USD 40.5 billion under primary income and a surplus of USD 4.2 billion under secondary income. The capital and financial accounts registered a deficit of USD 41.9 billion, including a deficit of USD 42 million under the capital account, and a deficit of USD 17.3 billion under the financial account (excluding reserve assets), and reserve assets increased by USD 24.6 billion.
In the US dollar terms, in 2020, China's current account recorded a surplus of USD 274 billion, including a surplus of USD 515 billion under trade in goods, a deficit of USD 145.3 billion under trade in services, a deficit of USD 105.2 billion under primary income and a surplus of USD 9.5 billion under secondary income. The capital and financial accounts recorded a deficit of USD 105.8 billion, including a deficit of USD 77 million under the capital account, a deficit of USD 77.8 billion under the financial account (excluding reserve assets), and reserve assets increased by USD 28 billion.
In SDR terms, in the fourth quarter, China posted a surplus of SDR 86.9 billion under the current account, and a deficit of SDR 29.4 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 12.1 billion, and reserve assets increased by SDR 17.3 billion.
In SDR terms, in 2020, China posted a surplus of SDR 194.4 billion under the current account, and a deficit of SDR 75.1 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 55.8 billion, and reserve assets increased by SDR 19.3 billion.
The SAFE has revised the BOP data for each quarter since 2015 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 2020. (End)
Abridged Balance of Payments, Q4 2020
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 8,177 | 1,238 | 869 |
Credit | 2 | 58,457 | 8,848 | 6,212 |
Debit | 3 | -50,280 | -7,610 | -5,343 |
1. A Goods and Services | 4 | 10,579 | 1,601 | 1,124 |
Credit | 5 | 53,705 | 8,128 | 5,707 |
Debit | 6 | -43,126 | -6,527 | -4,582 |
1.A.a Goods | 7 | 12,461 | 1,886 | 1,324 |
Credit | 8 | 49,238 | 7,452 | 5,232 |
Debit | 9 | -36,777 | -5,566 | -3,908 |
1.A.b Services | 10 | -1,882 | -285 | -200 |
Credit | 11 | 4,467 | 676 | 475 |
Debit | 12 | -6,349 | -961 | -675 |
1.B Primary Income | 13 | -2,678 | -405 | -285 |
Credit | 14 | 4,049 | 613 | 430 |
Debit | 15 | -6,727 | -1,018 | -715 |
1.C Secondary Income | 16 | 276 | 42 | 29 |
Credit | 17 | 703 | 106 | 75 |
Debit | 18 | -427 | -65 | -45 |
2. Capital and Financial Account | 19 | -2,768 | -419 | -294 |
2.1 Capital Account | 20 | 3 | 0.4 | 0 |
Credit | 21 | 4 | 1 | 0 |
Debit | 22 | -1 | 0 | 0 |
2.2 Financial Account | 23 | -2,771 | -419 | -294 |
Assets | 24 | -14,859 | -2,249 | -1,579 |
Liabilities | 25 | 12,088 | 1,830 | 1,284 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -1,143 | -173 | -121 |
2.2.1.1 Direct Investment | 27 | 3,730 | 565 | 396 |
Assets | 28 | -1,963 | -297 | -209 |
Liabilities | 29 | 5,694 | 862 | 605 |
2.2.1.2 Portfolio Investment | 30 | 3,580 | 542 | 380 |
Assets | 31 | -3,738 | -566 | -397 |
Liabilities | 32 | 7,318 | 1,108 | 778 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | 2 | 0 | 0 |
Assets | 34 | 99 | 15 | 10 |
Liabilities | 35 | -97 | -15 | -10 |
2.2.1.4 Other Investment | 36 | -8,455 | -1,280 | -898 |
Assets | 37 | -7,629 | -1,155 | -811 |
Liabilities | 38 | -826 | -125 | -88 |
2.2.2 Reserve Assets | 39 | -1,628 | -246 | -173 |
3. Net Errors and Omissions | 40 | -5,409 | -819 | -575 |
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 difference is the sum of the "Credit" and the "Debit". All items herein refer to difference, unless marked with "Credit" or "Debit".
3. The RMB denominated quarterly BOP data is converted from the USD denominated BOP data for the quarter using the quarterly average middle 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 for the quarter using the quarterly average middle 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 the section of “Data and Statistics” at the website of the SAFE.
7. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.
Abridged Balance of Payments, 2020
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 18,709 | 2,740 | 1,944 |
Credit | 2 | 207,187 | 30,117 | 21,658 |
Debit | 3 | -188,478 | -27,377 | -19,715 |
1. A Goods and Services | 4 | 25,267 | 3,697 | 2,629 |
Credit | 5 | 187,926 | 27,324 | 19,651 |
Debit | 6 | -162,659 | -23,627 | -17,021 |
1.A.a Goods | 7 | 35,311 | 5,150 | 3,681 |
Credit | 8 | 171,737 | 24,972 | 17,956 |
Debit | 9 | -136,426 | -19,822 | -14,275 |
1.A.b Services | 10 | -10,044 | -1,453 | -1,052 |
Credit | 11 | 16,189 | 2,352 | 1,695 |
Debit | 12 | -26,233 | -3,805 | -2,746 |
1.B Primary Income | 13 | -7,204 | -1,052 | -753 |
Credit | 14 | 16,673 | 2,417 | 1,736 |
Debit | 15 | -23,876 | -3,469 | -2,490 |
1.C Secondary Income | 16 | 645 | 95 | 68 |
Credit | 17 | 2,588 | 376 | 271 |
Debit | 18 | -1,943 | -281 | -203 |
2. Capital and Financial Account | 19 | -7,266 | -1,058 | -751 |
2.1 Capital Account | 20 | -6 | -1 | -1 |
Credit | 21 | 11 | 2 | 1 |
Debit | 22 | -17 | -2 | -2 |
2.2 Financial Account | 23 | -7,260 | -1,058 | -751 |
Assets | 24 | -42,918 | -6,263 | -4,477 |
Liabilities | 25 | 35,657 | 5,206 | 3,726 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -5,383 | -778 | -558 |
2.2.1.1 Direct Investment | 27 | 6,938 | 1,026 | 730 |
Assets | 28 | -7,572 | -1,099 | -790 |
Liabilities | 29 | 14,510 | 2,125 | 1,521 |
2.2.1.2 Portfolio Investment | 30 | 5,912 | 873 | 608 |
Assets | 31 | -11,472 | -1,673 | -1,206 |
Liabilities | 32 | 17,384 | 2,547 | 1,814 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | -800 | -114 | -83 |
Assets | 34 | -490 | -69 | -51 |
Liabilities | 35 | -310 | -45 | -32 |
2.2.1.4 Other Investment | 36 | -17,433 | -2,562 | -1,813 |
Assets | 37 | -21,506 | -3,142 | -2,236 |
Liabilities | 38 | 4,073 | 579 | 424 |
2.2.2 Reserve Assets | 39 | -1,878 | -280 | -193 |
3. Net Errors and Omissions | 40 | -11,443 | -1,681 | -1,192 |
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 difference is the sum of the "Credit" and the "Debit". All items herein refer to difference, unless marked with "Credit" or "Debit".
3. The RMB denominated quarterly BOP data is converted from the USD denominated BOP data for the quarter using the quarterly average middle 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 for the quarter using the 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 the section of “Data and Statistics” at the website of the SAFE.
7. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.
