State Administration of Foreign Exchange announced on FridayAvetlxmcraptorPreliminary data from the balance of payments account show that China's balance of payments will remain 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.Avetlxmcraptor.9%, continue to be in a reasonable equilibrium range, and two-way cross-border capital flows remain reasonable and orderly.

Wang Chunying, deputy director of the State Administration of Foreign Exchange and spokesman, pointed out in a press release that China's balance of payments in the first quarter showed three major characteristics: first, there was a trade surplus in goods. From January to March, 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.

"it is mainly because China's economy has made a good start since 2024. With the deepening of industrial transformation and upgrading, new growth points, new business type and new models of trade have been continuously expanded, and the trade structure has been continuously optimized." She said.

Second, trade in services shows a deficit. 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 US dollars, an increase of 34% over the same period last year, and the scale of travel-related income and expenditure continued to return to the pre-epidemic level. 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 is carried out in an orderly manner. 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 and business development has been maintained.

Wang Chunying said: on the whole, despite the marked increase in the complexity, severity, and uncertainty of the external environment, China has accelerated the construction of a new development pattern, focused on promoting 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.