Original title: In the first three quarters of 2021, my country’s international balance of payments will maintain a basic balance of securities investment, attracting US$143.7 billion in investment in China. Source: Securities Daily
Our reporter Liu Qi
On December 31, 2021, the State Administration of Foreign Exchange announced the official balance of payments for the third quarter and the first three quarters of 2021, and the international investment position at the end of September 2021.
According to data, in the third quarter of 2021, my country’s current account surplus was US$73.6 billion, of which the trade in goods surplus was US$136 billion, the service trade deficit was US$31.9 billion, the primary income deficit was US$34.1 billion, and the secondary income surplus was 3.5 billion US dollars. Dollar. The capital and financial account deficit was 48.3 billion U.S. dollars, of which the capital account surplus was 100 million U.S. dollars, the non-reserve financial account surplus was 13 billion U.S. dollars, and the reserve assets increased by 61.4 billion U.S. dollars, of which the reserves formed by the allocation of special drawing rights by the International Monetary Fund Assets increased by US$41.9 billion.
In terms of US dollars, in the first three quarters of 2021, my country’s current account surplus was US$196.3 billion, of which the goods trade surplus was US$374.2 billion, the service trade deficit was US$82.5 billion, the primary income deficit was US$105.6 billion, and the secondary income surplus was US$10.2 billion. The capital and financial account deficit was 104.4 billion U.S. dollars, of which the capital account surplus was 100 million U.S. dollars, the non-reserve financial account surplus was 41.8 billion U.S. dollars, and the reserve assets increased by 146.4 billion U.S. dollars.
Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, said that in the first three quarters of 2021, my country’s international balance of payments will maintain a basic balance. Among them, the current account surplus was 196.3 billion U.S. dollars, with a ratio of 1.5% to the gross domestic product (GDP), which continued to be in a reasonable equilibrium range; cross-border two-way investment remained active.
Specifically, the surplus in trade in goods increased year-on-year, and the deficit in trade in services narrowed. Wang Chunying introduced that in the first three quarters of 2021, the balance of payments calibrated goods trade surplus was US$374.2 billion, a year-on-year increase of 15%, mainly due to the continuous recovery of my country’s economy and the increase in international demand, which led to both year-on-year growth in imports and exports. The trade deficit in services was US$82.5 billion, a year-on-year decrease of 29%, mainly due to the repeated global epidemics, which continued to curb the flow of cross-border personnel, and the travel deficit narrowed by 20% year-on-year; the growth rate of transportation service revenue was faster than expenditure, and the transportation deficit narrowed year-on-year 41 %.
At the same time, my country’s foreign investment and investment in China are both active. According to Wang Chunying, in the first three quarters of 2021, my country’s direct foreign investment of US$85.4 billion remained stable; foreign direct investment in China was US$249.5 billion, reflecting the confidence of foreign investors in my country’s economic development prospects and investment in China. Under the securities investment, my country’s foreign investment of 99.2 billion US dollars and the absorption of 143.7 billion US dollars of investment in China reflect the smooth two-way opening of my country’s capital market and effectively meet the asset allocation needs of domestic and foreign investors. Under the deposits and loans and other investment items, my country’s foreign investment was US$313.4 billion, and the investment in China was US$143 billion, both of which were relatively high in the same period in history.
“On the whole, the current external environment is becoming more complex and severe. However, my country is coordinating the promotion of epidemic prevention and control and economic and social development. The domestic economic resilience is strong, and the long-term good fundamentals have not changed. This will help my country’s balance of payments maintain overall stability, Basically balanced pattern.” Wang Chunying said.
According to the International Investment Position Table, at the end of September 2021, my country’s external financial assets were US$90566 billion, foreign liabilities were US$7031.4 billion, and foreign net assets were US$20251 billion.
Among the external financial assets, direct investment assets were US$2.4685 billion, securities investment assets were US$966.9 billion, financial derivatives assets were US$13.8 billion, other investment assets were US$2.2344 billion, and reserve assets were US$3373.0 billion, accounting for 27% of foreign financial assets. 11%, 0.2%, 25%, and 37%; among the external liabilities, direct investment liabilities are 342.3 billion U.S. dollars, securities investment liabilities are 2,054.8 billion U.S. dollars, financial derivatives liabilities are 10.4 billion U.S. dollars, and other investment liabilities are 1,543.9 billion U.S. dollars, accounting for foreign liabilities. 49%, 29%, 0.1% and 22% of the total.
Wang Chunying said that as of the end of September 2021, my country’s international investment position has remained stable, its external net assets have increased, and the scale of reserve assets continues to rank first in the world. While the total scale of my country’s external assets has increased, its external liabilities have declined slightly.
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