SAFE Releases Preliminary Data of the Balance of Payments for the Third Quarter and the First Three ...

In the third quarter of 2025, China's current account registered a surplus of RMB 1394.8 billion, including a surplus of RMB 1921.3 billion under trade in goods, a deficit of RMB 352.0 billion under trade in services, a deficit of RMB 232.4 billion under primary income and a surplus of RMB 57.9 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of RMB 1394.8 billion. Inward foreign direct investments (FDI) continued the net inflow.

In the first three quarters of 2025, China's current account registered a surplus of RMB 3507.4 billion, including a surplus of RMB 5201.5 billion under trade in goods, a deficit of RMB 1116.6 billion under trade in services, a deficit of RMB 684.4 billion under primary income, and a surplus of RMB 106.9 billion under secondary income. The capital and financial accounts (including net errors and omissions for the third quarter) recorded a deficit of RMB 3388.5 billion.

In the US dollar terms, in the third quarter of 2025, China's current account registered a surplus of USD 195.6 billion, including a surplus of USD 269.5 billion under trade in goods, a deficit of USD 49.4 billion under trade in services, a deficit of USD 32.6 billion under primary income and a surplus of USD 8.1 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of USD 195.6 billion.

In the US dollar terms, in the first three quarters of 2025, China's current account recorded a surplus of USD 489.8 billion, including a surplus of USD 726.2 billion under trade in goods, a deficit of USD 155.8 billion under trade in services, a deficit of USD 95.5 billion under primary income, and a surplus of USD 14.9 billion under secondary income. The capital and financial accounts (including net errors and omissions for the third quarter) recorded a deficit of USD 473.3 billion.

In SDR terms, in the third quarter of 2025, China's current account registered a surplus of SDR 142.9 billion, including a surplus of SDR 196.9 billion under trade in goods, a deficit of SDR 36.1 billion under trade in services, a deficit of SDR 23.8 billion under primary income and a surplus of SDR 5.9 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of SDR 142.9 billion.

In SDR terms, in the first three quarters of 2025, China posted a surplus of SDR 363.9 billion under the current account, including a surplus of SDR 539.4 billion under trade in goods, a deficit of SDR 116.1 billion under trade in services, a deficit of SDR 70.5 billion under primary income and a surplus of SDR 11.0 billion under secondary income. The capital and financial accounts (including net errors and omissions for the third quarter) recorded a deficit of SDR 350.6 billion.(End)

China's Balance of Payments, Q3 2025 (Preliminary Data)

Item	Line No.	RMB 100 million	USD 100 million	SDR 100 million
1. Current account	1	13948	1956	1429
Credit	2	82444	11565	8449
Debit	3	-68496	-9609	-7020
1. A Goods and Services	4	15693	2201	1608
Credit	5	74819	10496	7668
Debit	6	-59126	-8295	-6060
1.A.a Goods	7	19213	2695	1969
Credit	8	66934	9390	6860
Debit	9	-47721	-6695	-4891
1.A.b Services	10	-3520	-494	-361
Credit	11	7885	1106	808
Debit	12	-11405	-1600	-1169
1.A.b.1 Processing services	13	200	28	20
Credit	14	254	36	26
Debit	15	-55	-8	-6
1.A.b.2 Maintenance and Repair Services	16	124	17	13
Credit	17	277	39	28
Debit	18	-153	-21	-16
1.A.b.3 Transport	19	-930	-131	-95
Credit	20	2259	317	231
Debit	21	-3189	-447	-327
1.A.b.4 Travel	22	-3589	-503	-368
Credit	23	989	139	101
Debit	24	-4578	-642	-469
1.A.b.5 Construction	25	156	22	16
Credit	26	343	48	35
Debit	27	-187	-26	-19
1.A.b.6 Insurance and Pension Services	28	-206	-29	-21
Credit	29	43	6	4
Debit	30	-249	-35	-26
1.A.b.7 Financial Services	31	-4	-1	0
Credit	32	61 Previous: SAFE Releases Selected Data on Transactions in the Chinese Foreign Exchange Market in October 2025 Next: SAFE Releases Data on China's Foreign Exchange Reserves at the End of October 2025 Related Articles SAFE Releases Data on China's Foreign Exchange Reserves at the End of January 2026 2026-04-14 SAFE Releases China's International Investment Position as at the End of June 2025 2026-04-14 SAFE Releases Data on China's Foreign Exchange Reserves at the End of May 2025 2026-04-14 SAFE Releases Data on External Financial Assets and Liabilities of China's Banking Sector as at the ... 2026-04-14 SAFE Releases China's International Investment Position as at the End of September 2025 2026-04-14 SAFE Releases China's External Debt Data at the end of 2025 2026-04-15