SAFE: The balance of payments was basically balanced in the first quarter, and the two-way cross-border capital flow was reasonable and orderly

According to data released today by the State Administration of Foreign Exchange, in the first quarter of this year, our country had a current account surplus of 82 billion US dollars, of which the goods trade surplus was 129.90 billion US dollars, the service trade deficit was 47 billion US dollars, the primary income deficit was 6.30 billion US dollars, and the secondary income surplus was 5.40 billion US dollars. In the capital and financial accounts, the direct investment deficit was 30.20 billion US dollars, and the reserve assets increased by 25.50 billion US dollars.

Talking about the characteristics of our country's balance of payments in the first quarter of this year, Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, said that in the first quarter of this year, our country's balance of payments maintained a basic balance. Among them, the current account surplus was 82 billion US dollars, which was 2% of the gross domestic product (GDP) in the same period, and continued to be in a reasonable and balanced range. Two-way cross-border capital flows remained reasonable and orderly.

The surplus of trade in goods is at a relatively high level in the same period in history. Data show that in the first quarter of this year, our country's balance of payments surplus of goods was 129.90 billion US dollars, the highest value in the first quarter of the year. Goods trade exports were 739.20 billion US dollars, imports were 609.20 billion US dollars. "Our country's manufacturing industry has accelerated transformation and upgrading, the industrial chain supply chain has remained stable, and new trade growth points have continued to emerge, promoting the trade surplus of goods to maintain a high level." Wang Chunying believes.

Trade in services showed a deficit. Data show that in the first quarter of this year, the trade deficit in services was 47 billion US dollars. "Among them, the travel deficit was 43.40 billion US dollars, an increase of 58% year-on-year, mainly due to the increase in individual outbound travel of residents; the transportation deficit was 19 billion US dollars, and the surplus was 3.30 billion US dollars in the same period last year. Mainly due to the orderly recovery of global transportation capacity supply, our country's transportation service revenue and expenditure gradually returned to the pre-epidemic level." She said.

Two-way direct investment has developed in an orderly manner. In the first quarter of this year, the net outflow of our country's foreign direct investment was 50.60 billion US dollars, an increase of 23% year-on-year, of which the net outflow of foreign equity investment was 31.30 billion US dollars; the net inflow of direct investment in China was 20.50 billion US dollars, of which the net inflow of equity investment was 28.30 billion US dollars.

"Generally speaking, in the face of the complex and changeable external environment, our country adheres to the general tone of seeking progress while maintaining stability, and strives to promote high-quality development. Economic development has shown a good trend of recovery, providing fundamental support for the basic balance of international payments in our country," Wang Chunying said.