In the first three quarters, the scale of Qinghai’s foreign-related receipts and expenditures hit a new high in the same period in the past three years.
Net capital inflow increased by 46% year-on-year, with trade in goods becoming the main support
Quick Look
- In the first three quarters of 2026, Qinghai Province’s total foreign-related receipts and expenditures were US$809 million, a year-on-year increase of 16%, and the net inflow was US$300 million, a year-on-year increase of 46%, a new high for the same period in the past three years.
- The total foreign-related receipts and payments of trade in goods were US$600 million, a year-on-year increase of 15%, which was the main support.
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Why It Matters
The Qinghai Provincial Branch of the People's Bank of China released statistical information showing that the scale of Qinghai Province's foreign-related receipts and payments in the first three quarters of 2026 hit a new high in the same period in the past three years, and the net inflow of funds increased significantly.
China News Service, Xining, November 11 (Li Jun) Statistical information released by the Qinghai Provincial Branch of the People's Bank of China on the 11th showed that in the first three quarters of 2026, the province's foreign-related revenue and expenditure reached a new high in the same period in the past three years, and the net inflow of funds increased significantly.
In the first three quarters, Qinghai Province’s total foreign-related receipts and expenditures totaled US$809 million, a year-on-year increase of 16%. Among them: total revenue was US$554 million, a year-on-year increase of 23%; total expenditure was US$255 million, a year-on-year increase of 3%; net inflow was US$300 million, a year-on-year increase of 46%.
On August 11, an international freight train from Qinghai to Vientiane, Laos was launched. Photo by Li Jun
Cai Liping, deputy director of the International Balance of Payments Department of the Qinghai Provincial Branch of the People's Bank of China, said that in the first three quarters, Qinghai Province's foreign-related receipts and payments to countries connected to the New Western Land-Sea Corridor, countries co-building the "Belt and Road" and ASEAN countries increased by 25%, 16% and 35% year-on-year respectively. Since the beginning of this year, Qinghai Province has had financial exchanges with 92 countries and regions. Among them, Hong Kong, Singapore and Japan ranked the top three in terms of revenue and expenditure, accounting for 30%, 16% and 9% respectively.
It is reported that the province’s trade in goods has strong support and its service trade deficit has narrowed significantly. In the first three quarters, the total foreign-related revenue and expenditure of Qinghai Province's trade in goods was US$600 million, a year-on-year increase of 15%, which is the main support for the province's foreign-related revenue and expenditure.
"The province's foreign-related economic development has shown a pattern of "core leadership and multiple breakthroughs". Grassroots foreign exchange services have gradually been extended, and a coordinated development pattern has initially taken shape." Cai Liping said. (over)
Open Questions
- Which specific industries or companies have driven the growth of foreign-related receipts and payments?
- What is the specific extent to which the service trade deficit will narrow?
- What is the detailed distribution of financial transactions with 92 countries and regions?
