State Administration of Foreign Exchange: Scale of China's Basic Balance of International Payments in the First Quarter of This Year | Externally | China
The State Administration of Foreign Exchange announced on June 30 that China's international balance of payments for the first quarter of 2023 was basically balanced. Among them, the current account surplus was 81.5 billion US dollars, which is a relatively high level in the same period in history, with a ratio of 2.0% to the GDP of the same period, maintaining a reasonable equilibrium range.
Photo by Xinhua News Agency reporter Liu Kaixiong
"The trade surplus of goods and the scale of imports and exports are both at the second highest value in the same period in history." Wang Chunying, Deputy Director and spokesperson of the State Administration of Foreign Exchange, introduced that in the first quarter, China's national economy continued to recover, and the economic operation achieved a good start. The trade surplus of goods in the international balance of payments was 129.9 billion US dollars, exports were 739.2 billion US dollars, and imports were 609.2 billion US dollars, all of which were the second highest values in the same period in history.
The data also shows that in the first quarter, China's outward investment remained stable and orderly, with a net increase of 99.8 billion US dollars in financial account assets, including a net increase of 25.5 billion US dollars in reserve assets due to transactions, and a net increase of 74.4 billion US dollars in non reserve financial account assets; Investment in China showed a net inflow, with a net increase of $23.5 billion in financial account liabilities.
On the same day, the State Administration of Foreign Exchange released China's international investment position statement for the end of March 2023, which showed that China's international investment position remained stable. At the end of March 2023, China's foreign asset scale reached 9445.7 billion US dollars, an increase of 2.0% compared to the end of 2022; The scale of external liabilities was 6880.4 billion US dollars, an increase of 2.3%; The scale of external net assets is 2565.3 billion US dollars, an increase of 1.3%, and has maintained continuous growth since the end of March 2022.
In terms of external assets, reserve assets amount to 3.4 trillion US dollars, ranking first in the world in scale. In terms of external liabilities, over 50% are directly invested in China, with a scale of 3.5 trillion US dollars, an increase of 1.2% compared to the end of 2022.