ChineseEnglish
SAFE News
  • Index number:
    000014453-2020-0044
  • Dispatch date:
    2020-03-27
  • Publish organization:
    State Administration of Foreign Exchange
  • Exchange Reference number:
  • Name:
    SAFE Releases Data on International Trade in Goods and Services of China in first two months of 2020
SAFE Releases Data on International Trade in Goods and Services of China in first two months of 2020

In first two months of  2020,Chinas international trade in goods and services recorded receipts of RMB 2194.3 billion and payments of  RMB 2456.9 billion based on statistics of  balance of  payments (BOP), registering a deficit of RMB 262.6 billion. Specifically, trade in goods registered receipts of RMB 1955.6 billion,payments of RMB 1991.7 billion, recording a deficit of RMB 36.1 billion;trade in services recorded receipts of RMB 238.7 billion,payments of RMB 465.2 billion, resulting in a deficit of RMB 226.6 billion.

In the US dollar terms, in first two months of 2020, China's BOP-based receipts and payments of international trade in goods and services were USD 315.3 billion and USD 353.1 billion respectively, registering a deficit of USD 37.7 billion.Specifically, the receipts and payments from trade in goods were USD 281 billion and USD 286.2 billion respectively, resulting in a deficit of USD 5.2 billion. Trade in services registered receipts and payments of USD 34.3 billion and USD 66.9 billion respectively, recording a deficit of USD 32.6 billion. (End)

 

InternationalTrade in Goods and Services of China

(Based on the BOP statistics)

January to February 2020

Item

In 100 million of RMB

In 100 million of USD

Goods and  services

-2626

-377

Credit

21943

3153

Debit

-24569

-3531

1. Goods

-361

-52

Credit

19556

2810

Debit

-19917

-2862

2. Services

-2266

-326

Credit

2387

343

Debit

-4652

-669

2.1Manufacturing services on physical inputs owned  by others

158

23

Credit

163

23

Debit

-5

-1

2.2Maintenance and repair services n.i.e

42

6

Credit

68

10

Debit

-26

-4

2.3Transport

-530

-76

Credit

467

67

Debit

-997

-143

2.4Travel

-2089

-300

Credit

237

34

Debit

-2326

-334

2.5Construction

12

2

Credit

101

14

Debit

-89

-13

2.6Insurance and pension services

-62

-9

Credit

33

5

Debit

-95

-14

2.7Financial services

15

2

Credit

38

5

Debit

-23

-3

2.8Charges for the use of intellectual  property

-169

-24

Credit

90

13

Debit

-259

-37

2.9Telecommunications, computer and information services


11

2

Credit

347

50

Debit

-335

-48

2.10Other business services

388

56

Credit

819

118

Debit

-430

-62

2.11Personal, cultural, and recreational  services

-23

  -3

Credit

8

1

Debit

-31

-4

2.12Government goods and services n.i.e

-19

-3

Credit

17

2

Debit

-36

-5

Notes:

1. The trade in goods and services in this table refers to the transactions between residents and non-residents, based on the same standard as that for BOP statement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement.

2. The data on international trade in goods and services are prepared in USD, and the RMB data for the current month is derived by converting the USD data at the monthly average central parity rate of the RMB against the USD.

3. This table employs rounded-off numbers.

Definition ofIndicators:

Goods and Services: refers to the trade in goods and services between residents and non-residents, which is based on the same standard as that for the BOP statement.

1. Goods:refers to transactions in goods whereby the economic ownership is transferred between the Chinese residents and non-residents. The credit side records export of goods, while the debit side records import of goods. The data of goods account are mainly from the customs statistics of imports and exports, but differ from the statistics of the customs mainly in the following aspects:first, the goods in the BOP statement only reflect the goods whose ownership has been transferred (e.g. goods under the trade modes such as general tradeand processing trade with imported materials), while the goods whose ownership is not transferred (e.g. manufacturing services with supplied materials or with exported materials) are included in the statistics of trade in services instead of the statistics of trade in goods; second, as required by the BOP statistics, the goods imported and exported are valued on the FOB basis, but as required by the customs, the goods exported are valued on the FOB basis, whereas goods imported are on the CIF basis. Therefore, for the purpose of the BOP statistics, the international transport and insurance premiums are taken out from the value of imported goods and included in the trade inservices; and third, the data on net export of goods in merchanting which are not included in the customs statistics are supplemented.

2. Services:includes manufacturing services on physical inputs owned by others,maintenance and repair services n.i.e, transport, travel,construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received.

2.1 Manufacturing services on physical owned by others: processor only provides processing, assembly, packaging and other services and charges service fee from the owner, while the ownership of the goods is not transferred between the owner and the processor. The credit side recordsthe manufacturing services supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa for debit side.

2.2 Maintenance and repair services: referto the maintenance and repair services supplied by residents to non-residentsor vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side recordsthe maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa for debit side.

2.3 Transport:refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postaland delivery services. The credit side records the international transport,postal and delivery services supplied by residents to non-residents, and vice versa for debitside.

2.4 Travel:refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for in definite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents.

2.5 Construction services:refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation,assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents.

2.6 Insuranceand pension services: refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side.

2.7 Financial services: refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side.

2.8 Charges for the use of intellectual property:refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or proto types. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side.

 2.9 Telecommunications, computer and information services: refer to communications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents tonon-residents, andvice versa for debit side.

2.10 Other business services: refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services,technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa for debit side.

2.11 Personal,cultural and recreational services: refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films,radio, television programs and music recordings) and other personal, culturaland recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa for debitside.

2.12Government goods and services n.i.e:refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side.

 

The English translation may only be used as a reference. In case a different interpretation of the translated information contained in this website arises, the original Chinese shall prevail.

Contact Us | For Home | Join Collection

State Administration of Foreign Exchange

福彩快乐12助手 2020年香港最新开奖结果 福建31选7怎么算中奖 秒速时时彩计划稳赚软件 吉林快三昨天开奖结果 安徽25选5开奖查询 云南十一选五彩票的玩法 浙江20选开奖结果 快3和值技巧100准 新快赢481稳赚不赔方案 湖北体彩11选五遗漏 幸运赛车的网址 江苏11选5任四 长投股票分析师 北京快乐8开奖网站 2009008期快乐双彩 山东11选5遗漏爱彩乐