The central bank: steady growth in the current account balance, with the overall surplus staying within a reasonable range.

The central bank released the first quarter of 2026 report on the implementation of China's monetary policy, which mentioned the changes and impact of the country's international balance of payments. The current account balance has steadily increased, with the overall surplus remaining within a reasonable range. The current account reflects a country's industrial competitiveness and long-term structural characteristics of the economy. In the past five years, China's current account balance has averaged $780 billion annually, an increase of 42% compared to the previous five years; the average annual surplus of the current account is $431.2 billion, with a ratio to GDP of 2.3%. Firstly, the resilience of goods trade has increased. In the past five years, the total value of goods imports and exports on an international balance of payments basis has increased by 47% compared to the previous five years. China's comprehensive industrial system continuously adapts to overseas demand, with the value added by the manufacturing industry ranking among the top in the world. Technology innovation and industrial innovation are deeply integrated, enabling China to keep pace with changes in international market demand, continuously provide high-quality supply, and provide support for stabilizing the global supply chain. Secondly, trade in services is stable and improving. The total value of service trade imports and exports exceeded $1 trillion in 2025, an increase of 44% compared to 2021, becoming a new engine for the development of foreign trade. The deficit in service trade is over $230 billion, making China the largest country with a deficit in service trade. The demand for service imports covers various sectors such as travel, intellectual property rights, finance, and business services, with imports mainly from developed countries in Europe and America, providing stable market demand for service enterprises in related countries.