In the first half of the year, China's balance of payments is still in the balance range
Our reporter Chang Xiaoyu
On August 7, Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, answered reporters' questions on the balance of payments in the first half of 2020.
According to Wang Chunying, preliminary data from the balance of payments show that in the first half of 2020, China’s current account surplus was 85.9 billion U.S. dollars, and its ratio to GDP was 1.3%, which continued to operate within a reasonable range; direct investment showed a net inflow. , The two-way capital flow in the securities market remained active.
First, the surplus in trade in goods increased year-on-year. In the first half of this year, the international balance of payments surplus in goods trade was US$184.4 billion, a year-on-year increase of 2%.
Second, the service trade deficit narrowed year-on-year. In the first half of 2020, the service trade deficit was US$76.5 billion, a 41% year-on-year decrease.
Third, the surplus in direct investment continued, and the two-way capital flow in the securities market remained active. In the first half of 2020, there was a direct investment surplus of US$18.7 billion, of which foreign direct investment was US$47.2 billion and direct investment in China was US$65.9 billion, both of which remained basically stable. In the securities market, in the second quarter, the net inflow of overseas investment in domestic securities exceeded US$60 billion, which was at a historically high level, indicating that RMB assets have strong appeal; my country's foreign securities investment also maintained a certain scale.
On the whole, my country's balance of payments in the first half of the year was still in a balanced range. At present, my country's economic structure continues to be optimized, and economic fundamental advantages provide favorable conditions for my country's balance of payments in the second half of the year. (Securities Daily)