china’s balance of payments in 2022: fundamentals remain stable ...
title:china’s balance of payments in 2022: fundamentals remain stable
in 2022，under the unexpected impact of a series of internal and external factors，china’s balance of payments continued to maintain an independent equilibrium. the trade surplus in goods boosted the current account surplus to the second largest in history，while the basic balance of payments maintained a relatively large surplus，effectively hedging short-term capital account fluctuations.
according to the preliminary balance of payments data，china’s current account surplus increased in 2022. the basic balance of payments was strong despite unexpected effects from the spillover risk of the conflict between russia and ukraine，the federal reserve’s (fed) aggressive tightening，and sporadic domestic resurgence of covid-19 cases. in addition，capital outflows increased but tended to moderate. china’s foreign exchange reserves declined in nominal terms but increased in real terms. generally speaking，the foreign economic sector has stood the test of shocks to capital flow and wide fluctuations in exchange rates.
the current account surplus reached its second-highest level in history，while the trade surplus in goods，as well as the volume of imports and exports，reached record highs.
