China’s balance of payments report in 2021 From State Administration of Foreign Exchange
The following is the China’s balance of payments report in 2021 From State Administration of Foreign Exchange recommended by recordtrend.com. And this article belongs to the classification: Chinese economy, research report.
The report shows that in 2021, China’s balance of payments will continue to be basically balanced, and its foreign exchange reserves will remain stable at about US $3.2 trillion. The current account surplus was US $317.3 billion, accounting for 1.8% of GDP, and remained in a reasonable equilibrium range. The report predicts that the current account will maintain a reasonable surplus pattern this year, and cross-border capital flows will maintain a steady and orderly development trend.
In terms of balance of payments, the report shows that in 2021, China’s current account surplus was 317.3 billion US dollars, an increase of 28% over 2020. Among them, the trade surplus of goods has further increased, reflecting the comparative advantages of China’s industrial chain and supply chain under the epidemic. The non reserve financial account surplus was US $38.2 billion, with a slight deficit in 2020. Among them, the direct investment surplus is at a high level, indicating that foreign capital continues to be optimistic about the good development potential of China’s market and economy; The active two-way trading of securities investment and the continued surplus reflect the increased attraction of RMB assets to foreign capital.
In terms of RMB exchange rate, the report shows that in 2021, the RMB exchange rate against the US dollar was generally stable in the two-way fluctuation, and the RMB performed steadily against a basket of currencies. In terms of foreign exchange market transactions, the foreign exchange hedging rate of enterprises increased by 4.6 percentage points to 21.7% compared with 2020. According to the analysis of insiders, the rise of foreign exchange hedging rate of enterprises last year reflects that enterprises better adapt to the two-way fluctuation of RMB exchange rate and actively establish the concept of exchange rate risk neutrality.
The report said that this year, the monetary policies of major developed economies continue to adjust, and there are many unstable and uncertain factors in the external environment. However, China’s economic operation will remain within a reasonable range, the reform and opening up of the financial market will advance steadily, and the maturity of the foreign exchange market will continue to improve, which will help China maintain a basic balance of payments.
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