BOP 2019

In 2019, China's current account registered a surplus of 976.8 billion yuan, and the capital and financial accounts recorded a surplus of 388.4 billion yuan. The financial account (excluding reserve assets) recorded a surplus of 254.5 billion yuan, and reserve assets decreased by 136.2 billion yuan.

In the US dollar terms, in 2019, China's current account recorded a surplus of $141.3 billion, including a surplus of $425.3 billion under trade in goods, a deficit of $261.1 billion under trade in services, a deficit of $33.0 billion under primary income and a surplus of $10.3 billion under secondary income. The capital and financial accounts recorded a surplus of $56.7 billion, including a deficit of $300 million under the capital account, a surplus of $37.8 billion under the financial account (excluding reserve assets), and reserves assets decreased by $19.3 billion.

In SDR terms, in 2019, China posted a surplus of SDR 102.4 billion under the current account, and a surplus of SDR 40.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a surplus of SDR 27.1 billion, and reserves assets decreased by SDR 14.1 billion.

The balance of payments (BOP), also known as balance of international payments, summarizes all transactions that a country's individuals, companies, and government bodies complete with individuals, companies, and government bodies outside the country. These transactions consist of imports and exports of goods, services, and capital, as well as transfer payments, such as foreign aid and remittances.

The balance of payments divides transactions into two accounts: the current account and the capital account. The current account includes transactions in goods, services, investment income, and current transfers. The capital account, broadly defined, includes transactions in financial instruments and central bank reserves. Narrowly defined, it includes only transactions in financial instruments.