China’s balance of payments report for the first half of 2020 From State Administration of Foreign Exchange
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The following is the China’s balance of payments report for the first half of 2020 From State Administration of Foreign Exchangerecommended by recordtrend.com. And this article belongs to the classification: China’s economy, research report.
The report shows that novel coronavirus pneumonia spread worldwide in the first half of 2020, the world economy was in a serious recession and the international financial market turbulence intensified. Since the second quarter, the domestic economy has been recovering steadily and the main economic indicators have improved significantly. The overall operation of the foreign exchange market is stable, and the flexibility of the RMB exchange rate has been enhanced, so as to effectively play an automatic stabilizer role in regulating the balance of payments.
In the first half of 2020, China’s balance of payments will be basically balanced. The current account surplus of US $76.5 billion, 1.2% of GDP, continued to be in a reasonable range, showing strong stability and resilience in the context of the epidemic. Among them, the goods trade surplus increased year on year, while the service trade deficit narrowed significantly. Cross border capital flows are generally stable. Among them, direct investment and bond investment are the main sources of surplus, with a total surplus of 39.4 billion US dollars. The confidence and trend of overseas investors to continue to invest in the Chinese market and allocate RMB assets has not changed. Cross border stock two-way investment is active, and the global spread of the epidemic has led to severe turbulence in the international financial market. In March, China’s cross-border stock investment fluctuated within a reasonable range in a short period, and it was rapid in the second quarter Stable and surplus. In the first half of the year, under the overall balance of payments pattern, the scale of foreign exchange reserves remained basically stable. By the end of June 2020, China’s net foreign assets reached US $2.2 trillion, an increase of 3.6% over the end of the previous year.
In the second half of 2020, the global epidemic situation and economic situation are still complex and severe. However, the steady recovery of China’s economy, the deepening of reform and opening up, and the acceleration of the formation of a new domestic and international dual cycle development pattern are still the solid foundation for the basic balance of payments. It is expected that the current account balance will continue to be in a reasonable range, cross-border capital flows will remain stable, and foreign exchange reserves will remain generally stable. The foreign exchange administration departments will adhere to the principle of making overall plans for reform and opening up and risk prevention, improve the level of cross-border trade and investment liberalization and facilitation, support the normalization of epidemic prevention and control and economic and social development, fight the battle of preventing and resolving major financial risks in the field of foreign exchange, and maintain the stability of the foreign exchange market and the national economic and financial security.
State Administration of foreign exchange: China’s current account surplus of 780.4 billion yuan in the second quarter
The State Administration of foreign exchange (SAFE) today (25th) released a series of data on China’s balance of payments, international investment and full caliber foreign debt.
The data shows that in the second quarter, China’s current account surplus was 780.4 billion yuan, and the capital and financial account deficit was 244.3 billion yuan. Among them, the non reserve financial account deficit was 108.6 billion yuan, and the reserve assets increased by 135.6 billion yuan. In addition, by the end of June 2020, China’s foreign financial assets reached 7860.2 billion US dollars, external liabilities were 5660.5 billion US dollars, and foreign net assets were 219.7 billion US dollars. By the end of June 2020, the balance of China’s full-scale foreign debt was 15096.4 billion yuan. The main indicators of China’s foreign debt are within the internationally recognized safety line, and the external debt risk is generally controllable.
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