SAFE Releases Preliminary Data of the Balance of Payments for the First Quarter of 2025
In the first quarter of 2025, China's current account registered a surplus of RMB 1188.5 billion, including a su...
In the first quarter of 2025, China's current account registered a surplus of RMB 1188.5 billion, including a surplus of RMB 1705.3 billion under trade in goods, a deficit of RMB 425.8 billion under trade in services, a deficit of RMB 110.4 billion under primary income and a surplus of RMB 19.4 billion under secondary income.The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of RMB 1188.5 billion. Inward foreign direct investments (FDI) continued the net inflow.
In the US dollar terms, in the first quarter of 2025, China's current account registered a surplus of USD 165.6 billion, including a surplus of USD 237.6 billion under trade in goods, a deficit of USD 59.3 billion under trade in services, a deficit of USD 15.4 billion under primary income and a surplus of USD 2.7 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of USD 165.6 billion.
In SDR terms, in the first quarter of 2025, China's current account registered a surplus of SDR 126.2 billion, including a surplus of SDR 181.0 billion under trade in goods, a deficit of SDR 45.2 billion under trade in services, a deficit of SDR 11.7 billion under primary income and a surplus of SDR 2.1 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of SDR 126.2 billion. (End)
China's Balance of Payments, Q1 2025 (Preliminary Data)
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current account | 1 | 11885 | 1656 | 1262 |
Credit | 2 | 72020 | 10036 | 7644 |
Debit | 3 | -60135 | -8380 | -6382 |
1. A Goods and Services | 4 | 12794 | 1783 | 1358 |
Credit | 5 | 66455 | 9261 | 7053 |
Debit | 6 | -53661 | -7478 | -5695 |
1.A.a Goods | 7 | 17053 | 2376 | 1810 |
Credit | 8 | 59267 | 8259 | 6290 |
Debit | 9 | -42214 | -5883 | -4480 |
1.A.b Services | 10 | -4258 | -593 | -452 |
Credit | 11 | 7189 | 1002 | 763 |
Debit | 12 | -11447 | -1595 | -1215 |
1.A.b.1 Processing services | 13 | 187 | 26 | 20 |
Credit | 14 | 210 | 29 | 22 |
Debit | 15 | -23 | -3 | -2 |
1.A.b.2 Maintenance and Repair Services | 16 | 108 | 15 | 12 |
Credit | 17 | 225 | 31 | 24 |
Debit | 18 | -117 | -16 | -12 |
1.A.b.3 Transport | 19 | -791 | -110 | -84 |
Credit | 20 | 2090 | 291 | 222 |
Debit | 21 | -2880 | -401 | -306 |
1.A.b.4 Travel | 22 | -4267 | -595 | -454 |
Credit | 23 | 797 | 111 | 85 |
Debit | 24 | -5064 | -706 | -538 |
1.A.b.5 Construction | 25 | 105 | 15 | 11 |
Credit | 26 | 268 | 37 | 28 |
Debit | 27 | -163 | -23 | -17 |
1.A.b.6 Insurance and Pension Services | 28 | -329 | -46 | -35 |
Credit | 29 | 67 | 9 | 7 |
Debit | 30 | -396 | -55 | -42 |
1.A.b.7 Financial Services | 31 | 15 | 2 | 2 |
Credit | 32 | 82 | 11 | 9 |
Debit | 33 | -67 | -9 | -7 |
1.A.b.8 Charges for the Use of Intellectual Property | 34 | -570 | -80 | -60 |
Credit | 35 | 189 | 26 | 20 |
Debit | 36 | -760 | -106 | -81 |
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