China-International Payment/H1

Shotlist

FILE: Beijing, China – May 2022 (CCTV – No access Chinese mainland)
1. Entrance to Administration of Foreign Exchange; sign

FILE: China – Date Unknown (CCTV – No access Chinese mainland)
2. Various of foreign banknotes going through counting machine
3. Various of Chinese yuan banknotes going through counting machine
4. RMB banknotes
5. Various of bank clerk serving client; sign reading (Chinese/English): “Window for foreigner-related business”

FILE: Shanghai, China – April 19, 2022 (CGTN – No access Chinese mainland)
6. Various of workers; car assembly line

FILE: Shanghai, China – June 2022 (CCTV – No access Chinese mainland)
7. Various of workers working in plant

FILE: Qinzhou,Guangxi Zhuang Autonomous Region, south China – June 28, 2022 (CCTV – NO access Chinese mainland)
8.Various aerial shots of port, cargo ship
9.Various of containers, trucks at port
10. Various of automated container terminal working
11. Aerial shot of train

Storyline

China maintained a basic balance in its international payments in the first half of 2022, with the current-account surplus keeping growing, the State Administration of Foreign Exchange said on Friday.

The country reported a current-account surplus of 169.1 billion U.S. dollars in the first six months of this year, accounting for 1.9 percent of its gross domestic product (GDP) for the period and remaining in a rational and balanced range, the administration said.

The administration also said that the current account surplus rose by 45 percent from the same period of last year, showing a strong resilience and huge potential of China’s export-related business.

Judged by data for the first half of the year, the basic surplus in the balance of international payments, such as the current account surplus and the direct investment surplus, laid a foundation for a stable foreign exchange reserve and a balanced international payments in the six-month period, according to Wen Bin, chief economist with China Minsheng Bank.

Wen also said that a significant drop in the deficit of the transport sector and growth in the surplus of high-tech information service trade led to a 30-percent year-on-year decrease of deficit of service trade.

China also saw a high-level net inflow of direct investment from January to June, according to the administration.

The administration also said that China’s long-term favorable development fundamentals have not changed, which is conducive to maintaining balance of international payments.