A (Reporter Liu Qi) May 10SplinterlandsmetaThe State Administration of Foreign Exchange announced the first quarter of 2024SplinterlandsmetaPreliminary figures for China's balance of payments account. According to the data, in terms of US dollars, China's current account surplus in the first quarter of 2024 was 39.2 billion US dollars, of which the trade surplus in goods was 121.1 billion US dollars, the deficit in service trade was 61 billion US dollars, the initial income deficit was 24.3 billion US dollars, and the secondary income surplus was 3.4 billion US dollars. In the capital and financial accounts, reserve assets increased by $43.4 billion.
Wang Chunying, deputy director of the State Administration of Foreign Exchange and spokesman, said that preliminary data on the balance of payments show that China's balance of payments will be basically balanced in the first quarter of 2024. Of this total, the current account surplus was 39.2 billion US dollars, which was 0% of the GDP of the same period.Splinterlandsmeta.9%, continue to be in a reasonable equilibrium range, and two-way cross-border capital flows remain reasonable and orderly.
At the same time, Wang Chunying introduced several major characteristics of China's balance of payments in the first quarter of 2024. First, there is a surplus in trade in goods. In the first quarter, China's balance of payments trade surplus in goods was 121.1 billion US dollars, of which exports of goods totaled 751.1 billion US dollars, an increase of 2 percent over the same period last year, and imports reached 630 billion US dollars, up 3 percent over the same period last year. The main reason is that China's economy has made a good start since 2024, with the deepening of industrial transformation and upgrading, the continuous expansion of new growth points, new business type and new models of trade, and the continuous optimization of trade structure.
Second, trade in services shows a deficit. Wang Chunying said that in the first quarter, the deficit in trade in services was 61 billion US dollars. On the one hand, the travel deficit was $53.8 billion, an increase of 34 per cent over the same period last year. On the other hand, the main surplus items of trade in services continued to grow. Of this total, consulting, advertising and other commercial services had a surplus of 12 billion US dollars, a record high, while telecommunications, computer and information services had a surplus of 4.8 billion US dollars, an increase of 30 per cent over the same period last year.
Third, two-way direct investment should be carried out in an orderly manner. Wang Chunying said: in the first quarter, the net outflow of China's foreign equity direct investment was 25.7 billion US dollars, and the "going out" of enterprises was stable and orderly; the net inflow of equity direct investment into China was 19 billion US dollars, of which the new capital inflow was 21 billion US dollars, indicating that the overall stability of foreign investment in China's exhibition industry has been maintained.
"generally speaking, despite the marked increase in the complexity, severity, and uncertainty of the external environment, China speeds up the construction of a new development pattern, strives to promote high-quality development, and has a stable economic foundation, many advantages, strong resilience, and great potential. will continue to provide fundamental support for the basic balance of our balance of payments." Wang Chunying said.
