The State Council Information Office held a press conference on July 22 to introduce the foreign exchange income and expenditure situation in the first half of 2025.

At the meeting, it was reported that China's cross-border travel revenue increased by 42% year-on-year in the first half of the year. The balance of payments covers various economic transactions between residents and non residents, with the current account reflecting trade in goods, trade in services, and investment returns. In recent years, China's current account has operated steadily, service trade has become increasingly active, and the trade deficit has continued to narrow. The competitiveness of productive service trade such as computer information services and commercial services has improved, coupled with the implementation of visa facilitation measures, the popularity of foreign travel to China has increased, driving the steady expansion of service trade revenue and expenditure growth.

In the first half of the year, service trade revenue increased by 13% year-on-year, expenditure increased by 2%, and the trade deficit decreased by 14%. Looking ahead, with the continuous optimization of the economic structure and steady progress in the two-way opening of the financial market, China's international balance of payments will remain basically balanced.