Strong External Position
China's current account recorded a surplus of 2,617.4 billion yuan in the first half of 2026, according to preliminary balance of payments data released by the State Administration of Foreign Exchange on August 14. This reflects continued strength in the country's external position despite global economic uncertainties.
Component Breakdown
| Component | H1 2026 (Billion Yuan) |
|---|---|
| Current account surplus | 2,617.4 |
| Goods trade surplus | 3,628.4 |
| Services trade deficit | -772.0 |
| Primary income deficit | -308.6 |
| Secondary income surplus | 69.5 |
Q2 Performance
In the second quarter alone, the current account surplus reached 1,333.7 billion yuan. Goods trade surplus stood at 1,906.5 billion yuan, while services trade recorded a deficit of 358.4 billion yuan. The data also showed that foreign direct investment into China remained in net inflow territory.
Trade Resilience
The substantial goods trade surplus reflects China's manufacturing competitiveness and recovering external demand. The services deficit, primarily from travel and transportation, remains contained as domestic consumption normalizes. Overall, the balance of payments data underscores China's resilient external position entering the second half of 2026.