SAFE Releases China's Balance of Payments for the Third Quarter and for the First Three Quarters of ...

In the third quarter of 2025, China's current account registered a surplus of RMB 1416.5 billion, and the capital and financial accounts recorded a deficit of RMB 1714.4 billion.

In the first three quarters of 2025, China's current account registered a surplus of RMB 3529.1 billion, and the capital and financial accounts recorded a deficit of RMB 3708.0 billion.

In the US dollar terms, in the third quarter, China's current account recorded a surplus of USD 198.7 billion, including a surplus of USD 269.5 billion under trade in goods, a deficit of USD 49.3 billion under trade in services, a deficit of USD 29.6 billion under primary income and a surplus of USD 8.1 billion under secondary income. The capital and financial accounts registered a deficit of USD 240.5 billion, including a surplus of USD 55.6 million under the capital account, and a deficit of USD 240.5 billion under the financial account.

In the US dollar terms, in the first three quarters of 2025, China's current account recorded a surplus of USD 492.8 billion, including a surplus of USD 726.1 billion under trade in goods, a deficit of USD 155.8 billion under trade in services, a deficit of USD 92.5 billion under primary income and a surplus of USD 15.0 billion under secondary income. The capital and financial accounts recorded a deficit of USD 518.1 billion, including a deficit of USD 89.3 million under the capital account, a deficit of USD 518.0 billion under the financial account.

In SDR terms, in the third quarter, China posted a surplus of SDR 145.2 billion under the current account, and a deficit of SDR 175.7 billion under the capital and financial accounts.

In SDR terms, in the first three quarters of 2025, China posted a surplus of SDR 366.1 billion under the current account, and a deficit of SDR 383.3 billion under the capital and financial accounts. (End)

Abridged Balance of Payments, Q3 2025

Item	Line No.	RMB 100 million	USD 100 million	SDR 100 million
1. Current Account	1	14165	1987	1452
Credit	2	82449	11566	8450
Debit	3	-68284	-9579	-6998
1. A Goods and Services	4	15692	2201	1608
Credit	5	74818	10496	7668
Debit	6	-59126	-8295	-6060
1.A.a Goods	7	19210	2695	1969
Credit	8	66930	9389	6859
Debit	9	-47721	-6695	-4891
1.A.b Services	10	-3517	-493	-360
Credit	11	7888	1106	808
Debit	12	-11405	-1600	-1169
1.B Primary Income	13	-2107	-296	-216
Credit	14	6630	930	679
Debit	15	-8737	-1226	-895
1.C Secondary Income	16	580	81	59
Credit	17	1000	140	103
Debit	18	-420	-59	-43
2. Capital and Financial Account	19	-17144	-2405	-1757
2.1 Capital Account	20	4	1	0
Credit	21	6	1	1
Debit	22	-2	0	0
2.2 Financial Account	23	-17148	-2405	-1757
Assets	24	-11667	-1638	-1197
Liabilities	25	-5481	-767	-561
2.2.1 Financial Account Excluding Reserve Assets	26	-17987	-2523	-1843
2.2.1.1 Direct Investment	27	-2447	-343	-251
Assets	28	-2856	-401	-293
Liabilities	29	408	58	42
2.2.1.2 Portfolio Investment	30	-13608	-1908	-1394
Assets	31	-7731	-1085	-793
Liabilities	32	-5877	-823	-601
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