China: Financial openness
* indicates monthly or quarterly data series
| China |
Financial openness index |
|---|---|
| Latest value | -1.242 |
| Year | 2021 |
| Measure | index points |
| Data availability | 1984 - 2021 |
| Average | -1.351 |
| Min - Max | -1.931 - -1.242 |
| Source | Chinn-Ito Index |
The latest value from 2021 is -1.242 index points, unchanged from -1.242 index points in 2020. In comparison, the world average is 0.322 index points, based on data from 176 countries. Historically, the average for China from 1984 to 2021 is -1.351 index points. The minimum value, -1.931 index points, was reached in 1987 while the maximum of -1.242 index points was recorded in 1984.
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Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
All articles
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 90.22 | 2021 | percent |
| Trade openness | 37.32 | 2023 | percent |
| Financial openness | -1.242 | 2021 | index points |
| Exports, percent of GDP | 19.74 | 2023 | percent |
| Exports, billion dollars | 3,513.24 | 2023 | billion U.S. dollars |
| Imports, percent of GDP | 17.57 | 2023 | percent |
| Imports, billion dollars | 3,127.20 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 1.00 | 2022 | percent |
| Foreign Direct Investment, billion dollars | 180.17 | 2022 | billion U.S. dollars |
| Portfolio investment inflows, equities | 7,446.11 | 2023 | million dollars (current) |
| Current account, percent of GDP | 1.72 | 2022 | percent |
| Current account, in dollars | 252.99 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | 3.21 | 2022 | percent |
| Trade balance, in dollars | 386.06 | 2023 | billion U.S. dollars |
| Reserves | 3,449.54 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 0.28 | 2023 | percent |
| Remittances | 49,500.00 | 2023 | million U.S. dollars |
| Net errors and omissions | -37,925.85 | 2023 | million USD |
| External debt | 13.44 | 2022 | percent |
| Short-term external debt | 52.96 | 2022 | percent |
| Short-term debt to reserves | 38.26 | 2022 | percent |
| Foreign exchange reserves | 3,453.85 | 6/2024 | billion |