2005 China International Balance of Payments Report

Author: State Administration of Exchange Regulation International Balance of Payments Analysis Group
Publisher:
Publishing Date: 2006-08-01
Features: In 2005, China's national economy maintained stable and relatively rapid development, with rapid growth in foreign trade, sustained large-scale foreign direct investment, and steady progress in the reform of the RMB exchange rate formation mechanism, leading to increased flexibility in the exchange rate. The balance of payments continued to maintain a "dual surplus." Specifically, the current account surplus was 160.8 billion US dollars, and the capital and financial account surplus was 63 billion US dollars. By the end of 2005, China's foreign exchange reserve balance stood at 818.9 billion US dollars. The main characteristics of China's balance of payments in 2005 were: the scale of balance of payments transactions continued to expand; the current account surplus rose significantly, with a substantial increase in the trade surplus in goods; the capital and financial account surplus decreased, with portfolio investment and other investments shifting from surplus to deficit, while foreign direct investment remained on a large scale; and foreign exchange reserves grew rapidly. The balance of payments continued to maintain strong overall risk resistance. This book, in both Chinese and English, provides an introduction and analysis of China's balance of payments situation in the first half of 2005, as well as the domestic and international economic conditions and foreign exchange management policies, by the International Analysis Group of the State Administration of Exchange Regulation. Additionally, five special columns are included to explain and analyze hot and difficult issues in foreign exchange both domestically and internationally, supplemented by charts. This book is an official announcement by the State Administration of Exchange Regulation, presenting a comprehensive reflection of China's balance of payments situation, and is the most authoritative statistical data in China reflecting the balance of payments in 2005.