Current Account in China

China Current Account | Economic News & Forecasts

China - Current Account

Growth slowed markedly to 4.9% year-on-year in Q3, below market expectations. Covid-19 flare-ups in July–August hit private spending and caused supply disruptions, while flooding in July further weighed on momentum. Industrial output was likely held back towards the end of the quarter by abrupt cutbacks in electricity generation, as local governments rushed to meet Beijing’s emissions standards, while tougher regulations weighed on the property sector throughout the period. The power crunch is likely dampening momentum at the outset of Q4, although authorities have recently pushed through reforms to ease the pain, including moving towards a more market-based pricing system. Financial sector turmoil further clouds the horizon: Local property giant Evergrande has missed a series of bond payments in recent weeks, with other Chinese developers also at risk amid tighter financial conditions.

China - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)2.8  1.8  1.6  0.2  1.0  

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China Current Account Chart


China Current Account
Note: Current account balance as % of GDP.
Source: State Administration of Foreign Exchange.

China Facts

Value Change Date
Bond Yield3.17-0.40 %Dec 31
Exchange Rate6.96-0.19 %Jan 01

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