Chinese Balance of Payment: Disequilibrium and the Influences

摘要

After 21st century, the continuous disequilibrium of Chinese balance of payments (BOP) has become a significant issue faced by Chinese macro-economic development. As can be revealed by the research, Chinese BOP was relatively stable and balanced from 1982 to 1993; from 1994 to 2011, it remained continuous "twin surplus" situation; since 2012, Chinese BOP has got rid of "twin surplus" condition. In recent years, BOP disequilibrium has imposed various negative influences on Chinese economic development including trade frictions, CNY depreciation pressure resulting from continuous large reserve asset surplus, severe capital flights, etc. Chinese government shall continue encouraging domestic enterprises to invest overseas and reinforcing foreign economic and trade cooperation, and meanwhile it is expected to strengthen its monitoring on trade, to strengthen curbing capital flights and to improve Chinese economic and financial regime further, so that Chinese BOP can get prone to equilibrium, and therefore Chinese national economy can be guaranteed to develop stably and sustainably.