SAFE Releases China's Balance of Payments for the First Quarter of 2025
In the first quarter of 2025, China's current account registered a surplus of RMB 1187.4 billion, and the capita...
In the first quarter of 2025, China's current account registered a surplus of RMB 1187.4 billion, and the capital and financial accounts recorded a deficit of RMB 1009.4 billion.
In the US dollar terms, in the first quarter, China's current account recorded a surplus of USD 165.4 billion, including a surplus of USD 237.5 billion under trade in goods, a deficit of USD 59.3 billion under trade in services, a deficit of USD 15.5 billion under primary income and a surplus of USD 2.8 billion under secondary income. The capital and financial accounts registered a deficit of USD 140.7 billion, including a deficit of USD 73.1 million under the capital account, and a deficit of USD 140.6 billion under the financial account.
In SDR terms, in the first quarter, China posted a surplus of SDR 126.0 billion under the current account, and a deficit of SDR 106.8 billion under the capital and financial accounts.(End)
Abridged Balance of Payments, Q1 2025
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 11874 | 1654 | 1260 |
Credit | 2 | 72030 | 10037 | 7645 |
Debit | 3 | -60157 | -8383 | -6384 |
1. A Goods and Services | 4 | 12788 | 1782 | 1357 |
Credit | 5 | 66449 | 9260 | 7053 |
Debit | 6 | -53661 | -7478 | -5695 |
1.A.a Goods | 7 | 17047 | 2375 | 1809 |
Credit | 8 | 59264 | 8258 | 6290 |
Debit | 9 | -42217 | -5883 | -4480 |
1.A.b Services | 10 | -4259 | -593 | -452 |
Credit | 11 | 7185 | 1001 | 763 |
Debit | 12 | -11444 | -1595 | -1215 |
1.B Primary Income | 13 | -1111 | -155 | -118 |
Credit | 14 | 4961 | 691 | 526 |
Debit | 15 | -6072 | -846 | -644 |
1.C Secondary Income | 16 | 198 | 28 | 21 |
Credit | 17 | 621 | 86 | 66 |
Debit | 18 | -423 | -59 | -45 |
2. Capital and Financial Account | 19 | -10094 | -1407 | -1068 |
2.1 Capital Account | 20 | -5 | -1 | -1 |
Credit | 21 | 2 | 0 | 0 |
Debit | 22 | -7 | -1 | -1 |
2.2 Financial Account | 23 | -10089 | -1406 | -1068 |
Assets | 24 | -13222 | -1842 | -1400 |
Liabilities | 25 | 3133 | 437 | 333 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -12323 | -1717 | -1306 |
2.2.1.1 Direct Investment | 27 | -2430 | -338 | -259 |
Assets | 28 | -3471 | -484 | -369 |
Liabilities | 29 | 1041 | 145 | 109 |
2.2.1.2 Portfolio Investment | 30 | -4390 | -612 | -467 |
Assets | 31 | -6469 | -901 | -687 |
Liabilities | 32 | 2079 | 290 | 220 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | -534 | -74 | -57 |
Assets | 34 | -416 | -58 | -44 |
Liabilities | 35 | -118 | -16 | -12 |
2.2.1.4 Other Investment | 36 | -4969 | -693 | -523 |
Assets | 37 | -5100 |
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