2024年上半年中国国际收支报告

International Balance of Payments - China's current account surplus in the first half of 2024 was $93.7 billion, accounting for 1.1$288.4 billion, with exports and imports growing by 3% and 4% respectively[10] - The service trade deficit expanded to $123 billion, driven by the recovery of cross-border travel and study activities[10] Capital and Financial Account - Non-reserve financial account recorded a deficit of$127.2 billion, forming a "one surplus, one deficit" balance with the current account[1] - Inbound investments reached $91.7 billion, with foreign equity direct investment and securities investment inflows hitting historical highs[1] - Outbound investments totaled$218.9 billion, with direct investment and securities investment showing steady growth[1] Foreign Exchange and Reserves - China's foreign exchange reserves remained stable, with a slight decrease of $4.5 billion due to transactions[12] - The RMB exchange rate remained stable at a reasonable and balanced level, with market expectations and transactions being rational and orderly[1] Global Economic Context - Global economic growth in 2024 is projected at 3.2%, slightly lower than the historical average of 3.8% from 2000 to 2019[5] - Inflation pressures eased globally, with the US CPI rising by 3% in June 2024, down from 3.3% in December 2023[6] Domestic Economic Performance - China's GDP grew by 5% year-on-year in the first half of 2024, outpacing global growth rates[8] - Retail sales of consumer goods increased by 3.7%, with service consumption growing by 7.5%[8]