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The preliminary data from the Balance of Payments released by the State Administration of Foreign Exchange on a certain date shows that in the first three quarters of the year, China's international balance of payments maintained a basic equilibrium. Among them, the current account surplus was $200 billion, accounting for 1.6% of the same period's GDP, continuing to remain within a reasonable and balanced range; cross-border capital flows in both directions were generally stable and orderly.

Regarding the characteristics of China's balance of payments in the first three quarters, the relevant official from the State Administration of Foreign Exchange stated that firstly, the scale of goods trade has been steadily growing. In the first three quarters, the surplus in goods trade under the balance of payments of China reached billions of USD, with a year-on-year increase of %. Among this, exports of goods trade amounted to billions of USD, up by % year-on-year; imports of goods trade totaled billions of USD, also up by % year-on-year. During the first three quarters, China accelerated the development of new high-quality production forces, continuously enhancing industrial competitiveness, and the recovery of external demand jointly drove exports. Meanwhile, China's industrial production maintained stable growth, with increased imports of major commodities, mechanical and electrical products, etc., further boosting the growth of goods trade imports.

Second, the balance of trade in services maintained growth. In the first three quarters, the service trade deficit was $X billion. On one hand, the travel deficit was $X billion, an increase of X% year-over-year. The recovery of outbound tourism and study abroad by residents continues, leading to an increase in travel expenditures; at the same time, China continues to optimize services for foreign nationals coming to China, resulting in an increase in inbound travel by foreigners, driving a rapid growth in travel revenue. On the other hand, the surplus in emerging productive services grew. Among them, the surplus in other business services such as consulting and advertising was $X billion, an increase of X% year-over-year; the surplus in telecommunications, computer, and information services was $X billion, an increase of X% year-over-year.

Three is the stable and orderly flow of two-way direct investment. In the first three quarters, China's net outflow of direct investment in equity form amounted to billions of dollars, with various enterprises "going global" in an overall reasonable and orderly manner; in terms of incoming direct investment in equity form, there was a new inflow of capital of billions of dollars.

Looking ahead to the balance of payments situation, the above-mentioned official stated that while the external environment remains complex, the fundamental situation of China's economy maintaining sustained and stable growth has not changed. The continuous implementation of existing policies and new policy measures will help the balance of payments to continue to remain basically balanced.

Text/Bi Ruolin

Editor/Sun Nan

Review/Time

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