State Administration of Foreign Exchange releases China's balance of payments for the fourth quarter and the whole year of 2025.

In the fourth quarter of 2025, China's current account surplus was 1.7261 trillion yuan, including a merchandise trade surplus of 2.196 trillion yuan, a service trade deficit of 343.5 billion yuan, a primary income deficit of 175.6 billion yuan, and a secondary income surplus of 49.2 billion yuan. The capital and financial account had a deficit of 1.6621 trillion yuan. In 2025, China's current account surplus was 5.2434 trillion yuan, while the capital and financial account had a deficit of 5.5171 trillion yuan. In US dollar terms, in the fourth quarter of 2025, China's current account surplus was $243.8 billion, with a merchandise trade surplus of $310.3 billion, a service trade deficit of $48.5 billion, a primary income deficit of $24.9 billion, and a secondary income surplus of $6.9 billion. The capital and financial account had a deficit of $234.8 billion. In 2025, China's current account surplus was $735 billion, while the capital and financial account had a deficit of $773.5 billion. In terms of SDR (Special Drawing Rights), in the fourth quarter of 2025, China's current account surplus was 178.9 billion SDR, with a merchandise trade surplus of 227.6 billion SDR, a service trade deficit of 35.6 billion SDR, a primary income deficit of 18.2 billion SDR, and a secondary income surplus of 5.1 billion SDR. The capital and financial account had a deficit of 172.2 billion SDR. In 2025, China's current account surplus was 543.7 billion SDR, while the capital and financial account had a deficit of 571.1 billion SDR.