The foreign exchange bureau data released on April 26 shows

The foreign exchange bureau data released on April 26 shows that the first quarter of this year, China's international balance of payments has changed the pattern of last year's fourth quarter current account surplus capital account deficit, current account and capital projects are the re-emergence of "twin surplus", showing this year China's net foreign exchange inflows over the previous year rebound. However, the relevant person in charge of the foreign exchange bureau has yet to see the country re-facing the Samsung Laptop Keyboard pressure of capital inflows.

Capital project to return the surplus

The latest quarter BoP preliminary data show that the first quarter of 2012, China's international balance of payments current account, capital and financial account, showing the "double surplus", the international reserve assets continued to grow.

Overall international balance of payments tend to be more balanced current account surplus narrowed further decline in the proportion of gross domestic product. Preliminary estimates, in Hot Keyboard the first quarter current account surplus of $ 24.7 billion, down 14%, the current surplus and seasonal domestic GDP ratio is only 1.4% over the previous year throughout the year, down 1.4 percentage points.

The capital and financial account surplus of $ 49.9 billion (including net errors and omissions), and capital projects of the fourth quarter of last year was a deficit of $ 48.1 billion. Net direct investment inflow of $ 44.1 billion. It is worth noting that this year, China's net foreign exchange inflows over the previous year rebound, but the year is still in a downward trend. The scale of a quarter of net capital inflows fell by 56%.

International reserve assets increased by $ 74.6 billion, of which foreign currency reserve assets increased by $ 74.8 billion (excluding the exchange rate, prices and other non-trading value changes), a decrease of $ 400,000,000 in the IMF reserve position, SDR 200 million U.S. dollars .

Has not been faced with the pressure of capital inflows

The first quarter of this year, new foreign exchange reserves of $ 123.8 billion, the person in charge of the foreign exchange bureau said that this can not explain our re-facing the pressure of capital inflows.

The one hand, foreign exchange reserves, balance of the first quarter growth was mainly due to asset price and exchange rate changes and other factors caused the increase of the reserve assets of the carrying value of, and do not reflect the actual cross-border capital flows. On the other hand, foreign exchange reserves increase reserves operating income, taking into account the management of foreign exchange reserves, the pulling effect of its operating income on foreign exchange reserves increased significantly.

Moreover, a quarter of reproduction of capital net inflow was mainly due to international market conditions improve, the global investment risk appetite increased, the capital back from emerging markets. However, compared with a year earlier, the first quarter, a net inflow of cross-border capital year on year is still down more than 50%. In addition, Europe's debt crisis is still evolving, the world is still at an increased risk of financial deleveraging process, cross-border capital flows into the big out.