In the second quarter of 2024, China's current account registered a surplus of RMB 387.6 billion, and the capital and financial accounts recorded a deficit of RMB 343.8 billion.

In the first half of 2024, China's current account registered a surplus of RMB 669.0 billion, and the capital and financial accounts recorded a deficit of RMB 878.8 billion.

In the US dollar terms, in the second quarter, China's current account recorded a surplus of USD 54.5 billion, including a surplus of USD 167.1 billion under trade in goods, a deficit of USD 61.7 billion under trade in services, a deficit of USD 53.5 billion under primary income and a surplus of USD 2.7 billion under secondary income. The capital and financial accounts registered a deficit of USD 48.4 billion, including a deficit of USD 93.8 million under the capital account, and a deficit of USD 48.3 billion under the financial account.

In the US dollar terms, in the first half of 2024, China's current account recorded a surplus of USD 93.7 billion, including a surplus of USD 288.4 billion under trade in goods, a deficit of USD 123.0 billion under trade in services, a deficit of USD 77.8 billion under primary income and a surplus of USD 6.1billion under secondary income. The capital and financial accounts recorded a deficit of USD 122.8 billion, including a deficit of USD 114.8 million under the capital account, a deficit of USD 122.7 billion under the financial account.

In SDR terms, in the second quarter, China posted a surplus of SDR 41.3 billion under the current account, and a deficit of SDR 36.6 billion under the capital and financial accounts.

In SDR terms, in the first half of 2024, China posted a surplus of SDR 70.7 billion under the current account, and a deficit of SDR 92.6 billion under the capital and financial accounts.

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 for the First Half of 2024.(End)

Abridged Balance of Payments, Q2 2024

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 second quarter of 2024, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 19.7 billion (RMB 139.8 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”.

Abridged Balance of Payments, First Half of 2024

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 first half of 2024, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 40.7 billion (RMB 291.0 billion).

6. This statement employs rounded-offnumbers.

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”.