In the fourth quarter of 2023, China's current account registered a surplus of RMB 405.5 billion, and the capital and financial accounts recorded a deficit of RMB 335.5 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 244.6 billion, and reserve assets increased by RMB 90.4 billion.

In 2023, China's current account registered a surplus of RMB 1782.6 billion, and the capital and financial accounts recorded a deficit of RMB 1518.1 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 1490.7 billion, and reserve assets increased by RMB 25.3 billion.

In the US dollar terms, in the fourth quarter,  China's current account recorded a surplus of USD 56.2 billion, including a surplus of  USD 151.1 billion under trade in goods, a deficit of USD 56.7 billion under trade in services, a deficit of USD 42.6 billion under primary income and a surplus of USD 4.4 billion under secondary income. The capital and financial accounts registered a deficit of  USD 46.6 billion, including a deficit of USD 81.5 million under the capital account, and a deficit of USD 34.0 billion under the financial account (excluding reserve assets), and reserves assets increased by USD 12.5 billion.

In the US dollar terms, in 2023, China's current account recorded a surplus of USD 253.0 billion, including a surplus of USD 593.9 billion under trade in goods, a deficit of USD 207.8 billion under trade in services, a deficit of USD 148.2 billion under primary income and a surplus of USD 15.2 billion under secondary income. The capital and financial accounts recorded a deficit of USD 215.1 billion, including a deficit of USD 297.9 million under the capital account, a deficit of USD 209.9 billion under the financial account (excluding reserve assets), and reserves assets increased by USD 4.8 billion.

In SDR terms, in the fourth quarter, China posted a surplus of SDR 42.4 billion under the current account, and a deficit of SDR 35.2 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 25.6 billion, and reserves assets increased by SDR 9.5 billion.

In SDR terms, in 2023, China posted a surplus of SDR 189.3 billion under the current account, and a deficit of SDR 161.1 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 156.9 billion, and reserves assets increased by SDR 4.0 billion.

The SAFE has revised the BOP data for each quarter since 2022 according to the latest data, which can be found in 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 2023. (End)

Abridged Balance of Payments, Q4 2023

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 period 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 for the quarter using the period 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. In the fourth quarter of 2023, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 36.6 billion (RMB 261.0 billion).

6. This statement employs rounded-off numbers.

7. For detailed data, please see the section of “Data and Statistics” at the website of the SAFE.

8. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.

Abridged Balance of Payments, 2023

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 period 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 for the quarter using the period 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.In 2023, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 120.0 billion ( RMB 846.8 billion).

6. This statement employs rounded-off numbers.

7. For detailed data, please see the section of “Data and Statistics” at the website of the SAFE.

8. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.