刚刚，重磅报告发布！

Core Insights - The report indicates that China's current account surplus reached $294.1 billion in the first half of 2025, remaining within a reasonable equilibrium range [1] - The total import and export volume of goods increased by 2% year-on-year, while service trade grew by 6%, with a 13% reduction in the service trade deficit [1] - Foreign investment returns improved, with China's outbound investment income and foreign investment income in China increasing by 13% and 7% year-on-year, respectively [1] Economic Performance - The report highlights a balanced pattern between the current account surplus and the non-reserve financial account deficit, indicating a stable international balance of payments [1][2] - By the end of June 2025, China's foreign financial assets and liabilities exceeded $11 trillion and $7.2 trillion, respectively, with a net foreign asset of $3.8 trillion, marking a 16% increase from the end of 2024 [1] Cross-Border Trade and Investment Facilitation - In the first half of 2025, over $700 billion in cross-border trade facilitation services were processed, reflecting an 11% year-on-year increase [3] - The report outlines measures to enhance cross-border investment and financing, including the cancellation of domestic reinvestment registration for foreign-invested enterprises and the expansion of pilot areas for integrated currency pools [4] Regional Development Support - The report emphasizes support for the construction of the Shanghai International Financial Center and the implementation of a series of foreign exchange facilitation policies in free trade zones [5] Tourism and Travel Growth - The inbound tourism market has accelerated, with inbound travel income reaching $24.3 billion in the first half of 2025, a 42% year-on-year increase [8] - The report notes that the number of inbound tourists from Hong Kong, Singapore, Taiwan, South Korea, and Malaysia accounted for 40% of total tourism income, with significant growth from the U.S., Japan, Australia, and the UK [8][9] Policy Enhancements for Tourism - The report highlights the optimization of the departure tax refund policy, which has been expanded nationwide, and the increase in the number of tax refund stores, enhancing the shopping experience for foreign visitors [10] - Various measures have been implemented to improve payment services for foreign tourists, including the ability to bind foreign bank cards to domestic payment apps and the expansion of currency exchange services at major airports and hotels [10] Future Outlook - The report anticipates that with the support of favorable policies, the travel market's consumption potential will be further released, and cross-border tourism income is expected to maintain a steady growth trend [11]