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    SAFE News
    • Index number:
      000014453-2022-0035
    • Dispatch date:
      2022-04-29
    • Publish organization:
      State Administration of Foreign Exchange
    • Exchange Reference number:
    • Name:
      SAFE Releases Data on International Trade in Goods and Services of China in March 2022
    SAFE Releases Data on International Trade in Goods and Services of China in March 2022

    In March 2022, the export and import of Chinas international trade in goods and services totalled RMB 3871.1 billion, up 15 percent over the same time last year. Of this, the export of goods recorded RMB 1868.7 billion and the import recorded RMB 1534.4 billion, resulting in a surplus of RMB 334.3 billion.The export of services recorded RMB 210.8 billion and the import recorded RMB 257.2 billion, resulting in a deficit of RMB 46.3 billion. In terms of the major items, the export and import of transport, other business services, travel and telecommunications, computer and information services registered RMB 169.1 billion, RMB 77.5 billion, RMB 65.8 billion and RMB 58.1 billion respectively.

    In the US dollar terms, in March 2022, the export and import of China’s international trade in goods and services were USD 327.7 billion and USD 282.3 billion respectively, with a surplus of USD 45.4 billion.(End)

     

    International Trade in Goods and Services of China

    March 2022

    Item

    In 100 million of RMB

    In 100 million of USD

    Goods and  services

    2880

    454

    Credit

    20795

    3277

    Debit

    -17915

    -2823

    1. Goods

    3343

    527

    Credit

    18687

    2945

    Debit

    -15344

    -2418

    2. Services

    -463

    -73

    Credit

    2108

    332

    Debit

    -2572

    -405

    2.1Manufacturing services on physical inputs owned  by others

    71

    11

    Credit

    76

    12

    Debit

    -5

    -1

    2.2Maintenance and repair services n.i.e

    15

    2

    Credit

    39

    6

    Debit

    -24

    -4

    2.3Transport

    1

    0

    Credit

    846

    133

    Debit

    -845

    -133

    2.4Travel

    -567

    -89

    Credit

    46

    7

    Debit

    -612

    -97

    2.5Construction

    15

    2

    Credit

    54

    9

    Debit

    -39

    -6

    2.6Insurance and pension services

    -131

    -21

    Credit

    54

    9

    Debit

    -185

    -29

    2.7Financial services

    14

    2

    Credit

    34

    5

    Debit

    -19

    -3

    2.8Charges for the use of intellectual  property

    -236

    -37

    Credit

    80

    13

    Debit

    -316

    -50

    2.9Telecommunications, computer and  information services

    146

    23

    Credit

    364

    57

    Debit

    -217

    -34

    2.10Other business services

    220

    35

    Credit

    497

    78

    Debit

    -277

    -44

    2.11Personal, cultural, and recreational  services

    -4

    -1

    Credit

    11

    2

    Debit

    -14

    -2

    2.12Government goods and services n.i.e

    -8

    -1

    Credit

    9

    1

    Debit

    -17

    -3

    Notes:

    1. The trade in goods and services in this table refers to the transactions between residents and non-residents, based on the same standard as that for BOP statement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement.

    2. The data on international trade in goods and services are prepared in USD, and the RMB data for the current month is derived by converting the USD data at the monthly average central parity rate of the RMB against the USD.

    3. This table employs rounded-off numbers.

    Definition of Indicators:

    Goods and Services: refers to the trade in goods and services between residents and non-residents, which is based on the same standard as that for the BOP statement.

    1. Goods: refers to transactions in goods whereby the economic ownership is transferred between the Chinese residents and non-residents. The credit side records export of goods, while the debit side records import of goods. The data of goods account are mainly from the customs statistics of imports and exports, but differ from the statistics of the customs mainly in the following aspects:first, the goods in the BOP statement only reflect the goods whose ownership has been transferred (e.g. goods under the trade modes such as general trade and processing trade with imported materials), while the goods whose ownershipis not transferred (e.g. manufacturing services with supplied materials or with exported materials) are included in the statistics of trade in services instead of the statistics of trade in goods; second, as required by the BOP statistics, the goods imported and exported are valued on the FOB basis, but as required by the customs, the goods exported are valued on the FOB basis, whereas goods imported are on the CIF basis. Therefore, for the purpose of the BOP statistics, the international transport and insurance premiums are taken out from the value of imported goods and included in the trade in services; and third, the data on net export of goods in merchanting which are not included in the customs statistics are supplemented.

    2. Services: includes manufacturing services on physical inputs owned by others, maintenance and repair services n.i.e, transport, travel,construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received.

    2.1 Manufacturing services on physical owned by others: processor only provides processing, assembly, packaging and other services and charges service fee from the owner, while the ownership of the goods isnot transferred between the owner and the processor. The credit side records the manufacturing services supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa for debit side.

    2.2 Maintenance and repair services: refer to the maintenance and repair services supplied by residents to non-residents or vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side records the maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa for debit side.

    2.3 Transport: refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postaland delivery services. The credit side records the international transport, postal and delivery services supplied by residents to non-residents, and vice versa for debit side.

    2.4 Travel: refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for indefinite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents.

    2.5 Construction services: refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation,assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents.

    2.6 Insurance and pension services: refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side.

    2.7 Financial services: refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side.

    2.8 Charges for the use of intellectual property: refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or prototypes. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side.

     2.9 Telecommunications, computer and information services: refer tocommunications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents to non-residents, and vice versa for debit side.

    2.10 Other business services: refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services, technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa for debit side.

    2.11 Personal, cultural and recreational services: refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films,radio, television programs and music recordings) and other personal, cultural and recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa for debit side.

    2.12 Government goods and services n.i.e: refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side.


    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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