The first three quarters - my balance of payments is basically in balance

On December 27, the State Administration of Foreign Exchange announced the official balance of payments in the third quarter of 2019 and the first three quarters, and the international investment position statement at the end of September 2019. Wang Chunying, spokesman and chief economist of the State Administration of foreign exchange, said that from the balance of payments, in the first three quarters of 2019, China's current account showed a surplus, cross-border funds showed a net inflow, and the balance of payments remained basically balanced. The current account is in surplus. In the first three quarters of 2019, the current account surplus is $137.4 billion, 1.3% of GDP in the same period, which is in a reasonable surplus range. Among them, the surplus of goods trade according to the balance of payments is 339.9 billion US dollars, up 33% year on year; the deficit of service trade is 2018 billion US dollars, down 12%. Under services trade, the deficit of travel, transportation and intellectual property use fees decreased by 8%, 14% and 10% respectively. Non reserve financial accounts show surplus.

In the first three quarters of 2019, the surplus of non reserve financial accounts was US $20.5 billion. The net inflow of direct investment is US $30.1 billion, including US $69.5 billion in foreign direct investment and US $99.5 billion in foreign direct investment. The net inflow of securities investment is 43 billion US dollars, including 63.2 billion US dollars of foreign securities investment in China and 106.2 billion US dollars of foreign securities investment in China. "On the whole, in the complex and changeable external environment, the basic trend of China's economic stability is good in the medium term and good in the long term. The economy is operating in a reasonable range, and the high level of opening up continues to advance. It is expected that China's balance of payments will be generally stable and basically balanced throughout the year." Wang Chunying said. Wang Chunying said that from the perspective of the international investment position table, at the end of September 2019, China's international investment position remained stable, its external net assets continued to increase, and the scale of reserve assets still ranked first in the world. Specifically, the total scale of foreign financial assets increased slightly.

At the end of September 2019, China's foreign assets reached US $7468.1 billion, an increase of 0.3% over the end of June. Among them, foreign direct investment assets amounted to 1969.5 billion US dollars, an increase of 0.9%; foreign securities investment assets amounted to 584.9 billion US dollars, an increase of 4.4%; other foreign investment assets amounted to 1701.9 billion US dollars, an increase of 0.3%; and reserve assets amounted to 3204.5 billion US dollars, ranking first in the world. At the same time, external liabilities have declined. At the end of September 2019, China's foreign liabilities reached US $5311.9 billion, down 1.9% compared with the end of June, which was mainly affected by exchange rate changes and revaluation. Among them, the liabilities for direct investment in China reached US $2777.3 billion, down 2.0%; the liabilities for foreign securities investment reached US $1228.8 billion, down 3.4%; the liabilities for other foreign investment reached US $1302.5 billion, down 0.7%.