Capital and financial accounts are defined bycapital account And financial accounts.Capital accounts are mainly recordsexport of capitalAnd capital input, and make a summary and comparative analysis.includeCapital transferAnd non productionNon financial assetsBuy or give up, etc.Financial accounts includeEconomiesExternal assetsAnd changes in the ownership of liabilities, which are divided intodirect investmentSecurities investment and other investments.
On March 29, 2024, the State Administration of Foreign Exchange announced China's balance of payments for the fourth quarter of 2023 and the whole year.The data shows that in 2023, China's current account surplus will be 1782.6 billion yuan, and the capital and financial account deficit will be 1518.1 billion yuan, of which the non reserve financial account deficit will be 1490.7 billion yuan, and the reserve assets will increase by 25.3 billion yuan.[1]
The capital account includes capital transfer and non productionNon financial assetsBuy or give up.The meaning of capital transfer has been explained in the part of current transfer.The purchase or abandonment of non productive and non-financial assets refers to the transactions of various intangible assets such as patents, copyrights, trademarks, distribution rights, leases and other transferable contracts.
Financial accounts
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（Financial Account）
The financial account includes four parts: direct investment, securities investment, other investments and reserve assets:
Direct Investment
The main feature of direct investment is that investors have permanent interests in enterprises in another economy.This permanent interest means that there is a long-term relationship between direct investors and enterprises, and investors can exert considerable influence on the operation and management of enterprises.Direct investment can take the form of directly establishing branch enterprises abroad, or purchasing a certain proportion of shares of foreign enterprises.In the latter case《Balance of payments handbook》It is stipulated in that the minimum proportion is 10%.
Portfolio Investment
The main objects of securities investment are equity securities and debt securities, which can be further subdivided into medium - and long-term bonds, money market instruments and other derivative financial instruments with a maturity of more than one year.
Other Investment
Other investments refer to financial transactions not included in all direct investments, securities investments or reserve assets (see below), including long-term and short-term trade credits, loans, currencies and deposits, and other income and expenditure items.
statistical data
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On March 29, 2024, the State Administration of Foreign Exchange announced China's balance of payments for the fourth quarter of 2023 and the whole year.Data shows that in the fourth quarter of 2023, China's current account surplus will be 405.5 billion yuan, and the capital and financial account deficit will be 335.5 billion yuan, of which the non reserve financial account deficit will be 244.6 billion yuan, and the reserve assets will increase by 90.4 billion yuan.In 2023, China's current account surplus will be 1782.6 billion yuan, and the capital and financial account deficit will be 1518.1 billion yuan, of which the non reserve financial account deficit will be 1490.7 billion yuan, and the reserve assets will increase by 25.3 billion yuan.[1]
