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連云港翻譯公司關鍵字：Residents of a country balance of payments and foreign residents in a given period between all the political, economic, and cultural exchanges of all economic transactions generated by the system currency record. A country's balance of payments by the country's international balance of payments to be embodied. International balance of payments balance of payments accounts by specific category and double-entry bookkeeping principles that come out of the report. It reflects the economic transaction size, structure and other conditions. A year on a country's international balance of payments conducted a detailed analysis of very great significance for foreign economic analysis and provide the basis for the development of foreign economic policy. ("International Monetary and Financial Economics" Mechanical Industry Press)
2004 compared to 2003 international balance of payments has undergone great changes, this article will be step by step analysis of its changes
General situation is as follows:State Administration of Foreign Exchange announced the 2004 international balance of payments. Statistics show that last year China's international balance of payments current account, capital a "twin surplus", the international reserves to maintain rapid growth. In 2004, China's international balance of payments current account surplus of $ 68.659 billion, an increase of 50%. According to the international balance of payments statistics, the exports of goods, $ 593.393 billion, imports $ 534.41 billion, a surplus of $ 58.982 billion; services revenue $ 62.434 billion, spending $ 72.133 billion, deficit $ 9.699 billion; income of $ 20.544 billion project income and expenditure $ 24.067 billion, deficit $ 3.523 billion; current transfers income $ 24.326 billion, spending $ 1.428 billion, a surplus of $ 22.898 billion. State Administration of Foreign Exchange ------ Source
In 2004, the capital and financial account surplus of $ 110.66 billion, an increase of 110%. Among them, the net inflow of direct investment $ 53.131 billion, portfolio investment net inflow of $ 19.69 billion, a net inflow of other investments $ 37.908 billion.
In the current, capital and financial "double surplus" under the impetus of 2004, rapid growth of China's international reserves, which increased $ 161 million special drawing rights, reserve position in the IMF to reduce the $ 478 million, foreign exchange reserves 2066.81 billion, higher than the increase of 116.844 billion U.S. dollars last year's level. China's foreign exchange reserves means more foreign exchange market the central bank intervention, the ability to enhance the stability of the exchange rate, foreign exchange market participants to strengthen their confidence in the currency is very favorable, and the corresponding currency exchange rates also contribute to the rise. This also demonstrates our ability to repay debt and further strengthened.
We know the difference between the use of the international balance of payments analysis, the difference of each transaction in which the borrowing side of the poor, mainly in the international balance of payments current account balance include the difference between the capital and financial account balance, the difference between the reserve asset, The next article from the relationship between these differences and start to 2004 in the BoP account of horizontal and vertical analysis.Analysis of current account balance
Current account balance by the current difference between the debit and credit, current account consists of three broad components, respectively, of goods and services (also known as trade items) income and current transfers items items, so the current account balance can be written as:
Current account balance = balance of trade account balance + income + current transfers balanceIf the difference is positive, the current account surplus, if it is negative then the current account deficit, if zero, the current account balance, current account balance changes by its sub-balance the impact of its child elements, and internal structural changes are will directly affect the current account of the changes.
In order to analyze the problem more clearly we will use the above-mentioned analysis of horizontal and vertical analysis1, the current difference horizontal analysisThe difference between the analysis of goods and services2004 current account surplus of $ 68.659 billion, of which goods and services account surplus $ 49.284 billion, project cargo trade surplus of $ 58.982 billion to achieve the service account deficit 96.98632 billion U.S. dollars, and watch his services under the sub, which are surplus, travel ($ 6.59 billion) building services (129 million) computer and information services (3.84 million) advertising and promotion ($ 150 million) and other business services ($ 7,473,000,000), the surplus turned around tourism and other commercial Best service, which shows that our tourism industry's strong international competitiveness, the deficit of transport projects ($ 12,476,000,000) communications services (0.32 million) insurance services ($ 5.743 billion) financial services (0.44 billion U.S. dollars) special have the right to royalties and license fees (42.60 billion U.S. dollars) Consulting ($ 1,582,000,000) movies and audio (1.35 million) and
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