Core Viewpoint - The State Administration of Foreign Exchange of China reported a preliminary balance of international payments for the first three quarters of this year, indicating a significant current account surplus. Group 1: Current Account Overview - In the first three quarters of this year, China's current account surplus reached 35,074 billion yuan [1] - The surplus in goods trade was 52,015 billion yuan, while the service trade recorded a deficit of 11,166 billion yuan [1] - The primary income deficit was 6,844 billion yuan, and the secondary income surplus was 1,069 billion yuan [1] Group 2: USD Valuation - In USD terms, the current account surplus for the first three quarters of 2025 was 4,898 billion USD [1] - The goods trade surplus amounted to 7,262 billion USD, with a service trade deficit of 1,558 billion USD [1] - The primary income deficit was 955 billion USD, and the secondary income surplus was 149 billion USD [1]

Core Viewpoint - The State Administration of Foreign Exchange of China reported a preliminary balance of international payments for the first three quarters of this year, indicating a significant current account surplus. Group 1: Current Account Overview - In the first three quarters of this year, China's current account surplus reached 35,074 billion yuan [1] - In USD terms, the current account surplus amounted to 4,898 million USD [1] Group 2: Trade Balance - The goods trade surplus was 52,015 billion yuan, while the services trade recorded a deficit of 11,166 billion yuan [1] - In USD, the goods trade surplus was 7,262 million USD, and the services trade deficit was 1,558 million USD [1] Group 3: Income Balance - The primary income recorded a deficit of 6,844 billion yuan, while the secondary income showed a surplus of 1,069 billion yuan [1] - In USD, the primary income deficit was 955 million USD, and the secondary income surplus was 149 million USD [1]

Core Insights - China's service trade has shown steady growth in the first three quarters of 2025, with a total import and export value of 59,362.2 billion yuan, reflecting a year-on-year increase of 7.6% [1] Summary by Categories Overall Service Trade Performance - Total service trade reached 59,362.2 billion yuan, with exports at 26,015 billion yuan (up 14.4%) and imports at 33,347.2 billion yuan (up 2.8%) [1] - The service trade deficit was 7,332.2 billion yuan, a decrease of 2,382.4 billion yuan compared to the previous year [1] Knowledge-Intensive Service Trade - Knowledge-intensive service trade maintained growth, with a total import and export value of 22,705.9 billion yuan, an increase of 6.4% [1] - Specific sectors such as other business services and telecommunications, computer, and information services had import and export values of 9,663.8 billion yuan and 7,940.6 billion yuan, with growth rates of 3.9% and 10.6% respectively [1] - Knowledge-intensive service exports were 13,177.6 billion yuan (up 9.2%), while imports were 9,528.3 billion yuan (up 2.8%), resulting in a surplus of 3,649.3 billion yuan, an increase of 857.3 billion yuan year-on-year [1] Travel Services - Travel services experienced rapid growth, with total imports and exports reaching 16,372.5 billion yuan, an increase of 8.8% [1] - Exports in travel services surged by 54.4%, while imports grew by 2.7% [1]

Core Insights - The Central Bank of Russia estimates that the monthly trade surplus will decrease by $1.2 billion year-on-year, totaling $7.5 billion by the end of August 2025 [1] - Compared to July 2025, the trade surplus has decreased by $5.2 billion, primarily due to a decline in export costs [1] - The services trade deficit has expanded to $6 billion in August due to a contraction in service exports [1] - The current account deficit for August 2025 stands at $900 million, a shift from a surplus of $1.2 billion in July 2025 [1] - For the period from January to August 2025, the merchandise trade surplus is $75.5 billion, down from $88.7 billion in the same period last year [1]

Core Points - In Q2 2025, China's current account surplus was 925.2 billion yuan, while the capital and financial account recorded a deficit of 984.2 billion yuan [1] - For the first half of 2025, the current account surplus reached 21,126 billion yuan, with a capital and financial account deficit of 19,936 billion yuan [1] - In USD terms, the current account surplus for Q2 2025 was 128.7 billion USD, driven by a goods trade surplus of 219.1 billion USD and a services trade deficit of 47.1 billion USD [1] - The capital and financial account deficit in USD for Q2 2025 was 137 billion USD, with a capital account deficit of 1 million USD and a financial account deficit of 136.9 billion USD [1] - For the first half of 2025, the current account surplus in USD was 294.1 billion USD, with a goods trade surplus of 456.7 billion USD and a services trade deficit of 106.4 billion USD [1] - The capital and financial account deficit in USD for the first half of 2025 was 277.6 billion USD, with a capital account deficit of 1 million USD and a financial account deficit of 277.5 billion USD [1] SDR Valuation - In Q2 2025, the current account surplus was 94.9 billion SDR, while the capital and financial account recorded a deficit of 100.8 billion SDR [2] - For the first half of 2025, the current account surplus was 220.9 billion SDR, with a capital and financial account deficit of 207.6 billion SDR [2]

Core Insights - The State Administration of Foreign Exchange released preliminary data on China's balance of payments for the first half of 2025, indicating a current account surplus of 21,589 billion yuan [1] Trade Balance - The goods trade surplus amounted to 32,798 billion yuan, while the services trade recorded a deficit of 7,604 billion yuan [1] - The primary income deficit was 4,089 billion yuan, and the secondary income surplus was 485 billion yuan [1] USD Valuation - In USD terms, the current account surplus for the first half of 2025 was 300.6 billion USD, with a goods trade surplus of 456.6 billion USD [1] - The services trade deficit in USD was 105.9 billion USD, while the primary income deficit was 56.9 billion USD, and the secondary income surplus was 6.7 billion USD [1]

Group 1 - The total import and export value of China's service trade in the first half of the year reached 38,872.6 billion yuan, representing a year-on-year growth of 8.0% [1] - Service exports amounted to 16,883 billion yuan, with a year-on-year increase of 15.0%, while imports were 21,989.6 billion yuan, growing by 3.2% [1] - The service trade deficit was 5,106.6 billion yuan, a decrease of 1,522.1 billion yuan compared to the same period last year [1] Group 2 - Travel services maintained rapid growth, with imports and exports totaling 10,802.9 billion yuan, a year-on-year increase of 12.3%, making it the largest sector in service trade [1] - Travel service exports saw the highest growth rate, increasing by 68.7%, while imports grew by 5.5% [1] Group 3 - Knowledge-intensive service imports and exports reached 15,025.4 billion yuan, with a year-on-year growth of 6.0% [1] - Major components of knowledge-intensive services included other business services and telecommunications, with export values of 6,391 billion yuan and 5,293.8 billion yuan, growing at rates of 3.1% and 12.7% respectively [1] - Knowledge-intensive service exports totaled 8,650.4 billion yuan, up by 7.8%, while imports were 6,375 billion yuan, increasing by 3.6%, resulting in a surplus of 2,275.4 billion yuan, which expanded by 409.2 billion yuan year-on-year [1]

Core Insights - In the first half of 2025, China's service trade showed steady growth, with a total import and export value of 38,872.6 billion RMB, representing a year-on-year increase of 8.0% [1][3] - Service exports reached 16,883 billion RMB, growing by 15.0%, while imports totaled 21,989.6 billion RMB, with a growth of 3.2% [1][3] - The service trade deficit was 5,106.6 billion RMB, a decrease of 1,522.1 billion RMB compared to the same period last year [1][3] Service Trade Characteristics - Knowledge-intensive service trade continued to grow, with imports and exports totaling 15,025.4 billion RMB, an increase of 6.0% [3] - Major contributors to knowledge-intensive services included other business services and telecommunications, with respective trade values of 6,391 billion RMB and 5,293.8 billion RMB, growing at rates of 3.1% and 12.7% [3] - Knowledge-intensive service exports were 8,650.4 billion RMB, up by 7.8%, while imports were 6,375 billion RMB, increasing by 3.6%, resulting in a surplus of 2,275.4 billion RMB, which is an expansion of 409.2 billion RMB year-on-year [3] Travel Services Performance - Travel services experienced the fastest growth, with total imports and exports reaching 10,802.9 billion RMB, marking a 12.3% increase, making it the largest sector in service trade [3] - Travel service exports surged by 68.7%, while imports grew by 5.5% [3]

Group 1 - The core viewpoint of the article highlights the international balance of payments data for goods and services trade in China for June 2025, showing a significant increase in trade volume compared to the previous year [1] Group 2 - In June 2025, China's total goods and services trade reached 42,214 billion yuan, marking a year-on-year growth of 6% [1] - The goods trade exports amounted to 21,185 billion yuan, while imports were 15,112 billion yuan, resulting in a surplus of 6,073 billion yuan [1] - The services trade saw exports of 2,437 billion yuan and imports of 3,480 billion yuan, leading to a deficit of 1,043 billion yuan [1] - Major components of services trade included transportation services with a trade volume of 1,639 billion yuan, travel services at 1,603 billion yuan, other commercial services at 967 billion yuan, and telecommunications, computer, and information services at 659 billion yuan [1] - In dollar terms, the goods and services trade exports were valued at 32.92 billion USD, imports at 25.91 billion USD, and the surplus was 7.01 billion USD [1]

Core Insights - The core viewpoint of the article highlights the improvement in China's service trade, with a notable decrease in the trade deficit and significant growth in cross-border travel income [1] Group 1: Service Trade Performance - In the first half of the year, China's service trade income increased by 13% year-on-year [1] - Service trade expenditure grew by 2%, indicating stable spending patterns [1] - The overall service trade deficit decreased by 14%, reflecting a positive trend in the balance of service trade [1] Group 2: Cross-Border Travel - Cross-border travel income surged by 42%, showcasing a strong recovery and demand in this sector [1]