my country's current account surplus is 168.7 billion US dollars
This paper, Beijing, December 25 (Reporter Ge Mengchao) The State Administration of Foreign Exchange released data on the 25th, showing that in the first three quarters of this year, my country’s current account surplus was US$168.7 billion, which is 1.6% of the gross domestic product (GDP). Continue to be in a reasonable equilibrium range.
The data shows that the balance of payments calibrated goods trade surplus was 340.2 billion U.S. dollars, an increase of 12% year-on-year, mainly due to better-than-expected imports and exports of goods trade; the service trade deficit was 116.8 billion U.S. dollars, a year-on-year decrease of 42%, mainly due to cross-border trade during the epidemic. Travel decreased, and the travel deficit narrowed 46% year-on-year.
Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, said that at present, various types of cross-border transactions such as direct investment, securities investment, deposits and loans have entered and exited. Foreign entities investing and holding RMB assets and domestic entities' allocation of global assets have remained active. .
From the data point of view, in the first three quarters, my country's foreign investment grew faster than foreign investment. Non-reserve financial account assets increased by US$408 billion, a year-on-year increase of 1.7 times; external liabilities increased by US$337.6 billion, a year-on-year increase of double.
"It is expected that my country's international balance of payments will continue to show an overall stable and basically balanced pattern throughout the year." Wang Chunying said.
On the same day, the State Administration of Foreign Exchange also announced the international investment position table at the end of September 2020.
Data show that at the end of September 2020, my country’s external assets were US$8.1666 billion, an increase of 3.9% over the end of June; during the same period, my country’s external liabilities were US$60128 billion, an increase of 6.2% over the end of June.
Wang Chunying said that my country's international investment position is generally stable. The scale of external financial assets and liabilities is affected by transactions, asset price changes and exchange rate conversion, and all have shown growth. Reserve assets have remained basically stable.