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State Administration of Foreign Exchange: China's Balance of Payments Maintains Basic Balance

来源: 证券日报 2019-12-30 09: 39: 32Source: Securities Daily

On December 27, the State Administration of Foreign Exchange announced the balance of payments of China in the third quarter and the first three quarters of 2019 and the international investment position table at the end of September. According to Wang Chunying, spokesperson and chief economist of the State Administration of Foreign Exchange, from the balance of payments statement, in the first three quarters of 2019, China's current account showed a surplus, cross-border funds showed a net inflow, and the balance of payments remained basically balanced; from Looking at the international investment position table, at the end of September 2019, China's international investment position remained stable, its external net assets continued to increase, and its reserve assets still ranked first in the world.

"Overall, under the complex and ever-changing external environment, the basic trend of China's economic stability and long-term improvement has not changed, the economic operation is in a reasonable range, and high-level opening to the outside world continues to advance." Wang Chunying predicts that throughout the year The balance of payments will show a pattern of overall stability and basic balance.

According to the balance of payments data, in the third quarter of this year, China's current account surplus was 49.2 billion US dollars, of which the goods trade surplus was 131.6 billion US dollars, the service trade deficit was 72.5 billion US dollars, and the initial income deficit was 12.1 billion US dollars. The surplus in secondary income was $ 2.2 billion.

In terms of US dollars, China's current account surplus was US $ 137.4 billion in the first three quarters, of which US $ 339.9 billion was a trade surplus in goods, US $ 18 billion in a service trade deficit, US $ 8.3 billion in a primary income deficit, and US $ 7.6 billion in a secondary income surplus.

Wang Chunying said that in the first three quarters of this year, the current account surplus was US $ 137.4 billion, which was 1.3% of the GDP in the same period, which was in a reasonable surplus range. At the same time, non-reserve financial accounts showed a surplus. In the first three quarters of this year, the net inflow of direct investment was US $ 30.1 billion, of which China's foreign direct investment was US $ 69.5 billion and foreign direct investment in China was US $ 99.5 billion. The net inflow of securities investment was US $ 43 billion, of which China's foreign securities investment was US $ 63.2 billion and foreign securities investment in China was US $ 106.2 billion.

In terms of international investment positions, data show that at the end of September 2019, China's foreign assets were US $ 746.8 billion, of which foreign direct investment assets were US $ 199.5 billion, an increase of 0.9%; foreign securities investment assets were US $ 584.9 billion, an increase of 4.4%; other foreign investments Assets were US $ 171.9 billion, an increase of 0.3%; reserve assets were US $ 324.5 billion, ranking first in the world. At the end of September, China's foreign debt was US $ 53119 billion, down 1.9% from the end of June. Among them, the direct investment liabilities to China were US $ 277.3 billion, down 2.0%; the foreign securities investment liabilities were US $ 12208 billion, down 3.4%; the other foreign investment liabilities were US $ 132.5 billion, down 0.7%. (Reporter Liu Qi)

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