BOP 2020

In the third quarter of 2020, China's current account registered a surplus of 652.1 billion yuan, including a surplus of 1075.8 billion yuan under trade in goods, a deficit of 279.5 billion yuan under trade in services, a deficit of 165.2 billion yuan under primary income, and a surplus of 21 billion yuan under secondary income.In the capital and financial accounts, direct investments recorded a surplus of 165.3 billion yuan, and reserve assets increased by 64.2 billion yuan.

In the first three quarters of 2020, China's current account registered a surplus of 1197.4 billion yuan, including a surplus of 2379.6 billion yuan under trade in goods, a deficit of 816.9 billion yuan under trade in services, a deficit of 404 billion yuan under primary income, and a surplus of 38.6 billion yuan under secondary income. In the capital and financial accounts, direct investments recorded a surplus of 312.4 billion yuan, and reserve assets increased by 24.9 billion yuan.

In the US dollar terms, in the third quarter of 2020, China's current account recorded a surplus of USD 94.2 billion, including a surplus of USD 155.4 billion under trade in goods, a deficit of USD 40.4 billion under trade in services, a deficit of USD 23.9 billion under primary income, and a surplus of USD 3 billion under secondary income. In the capital and financial accounts, direct investments recorded a surplus of USD 23.9 billion, and reserve assets increased by USD 9.3 billion.

In the US dollar terms, in the first three quarters of 2020, China's current account recorded a surplus of USD 170.7 billion, including a surplus of USD 339.8 billion under trade in goods, a deficit of USD 116.9 billion under trade in services, a deficit of USD 57.8 billion under primary income, and a surplus of USD 5.5 billion under secondary income. In the capital and financial accounts, direct investments recorded a surplus of USD 44.9 billion, and reserve assets increased by USD 3.4 billion.

In SDR terms, in thethirdquarterof 2020, China posted a surplus of SDR 67 billion under the current account, including a surplus of SDR 110.6 billion under trade in goods, a deficit of SDR 28.7 billion under trade in services. In thecapital and financial accounts, direct investments recorded a surplus of SDR 17 billion, and reserve assets increased by SDR 6.6 billion.

In SDR terms, in first three quarters of 2020, China posted a surplus of SDR 122.5 billion under the current account, including a surplus of SDR 245.6 billion under trade in goods, a deficit of SDR 85.2 billion under trade in services. In the capital and financial accounts, direct investments recorded a surplus of SDR 32.5 billion, and reserve assets increased by SDR 2 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.