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国际收支平衡表学习笔记2016-03-11肖立晟立晟宏观经济点评研究国际金融问题，最重要的一张表就是国际收支平衡表（BOP 表）。
最近受邀去给央财金融硕讲课，趁机恶补了一遍BOP表各项指标，并做了一些学习笔记。
BOP表分为三部分：经常账户、资本与金融账户、错误与遗漏账户。
先看经常账户。
经常账户分为货物、服务、初次收入、二次收入。
1、货物项是经常账户最重要的组成部分。
该项统计（1）只记录所有权发生了转移的货物（如一般贸易、进料加工贸易等贸易方式的货物），所有权未发生转移的货物（如来料加工或出料加工贸易）不纳入货物统计，而纳入服务贸易统计。
（2）进出口货值均按离岸价格记录。
三套数据统计货物贸易（1）国际收支平衡表中经常项目中的贸易贸易（2）海关总署的进出口贸易数据（3）中国人民银行的代客结售汇数据口径差别：国际收支主要反映居民和非居民之间的货物所有权变更。
海关统计主要反映跨境货物统计，以报关单为编制基础。
与BOP 表相比，海关口径更大一些，包括了来料加工和出料加工贸易。
代客结售汇数据反映的是已经发生的汇兑行为，提现了进出口商的持汇意愿。
比较而言，海关公布的进出口贸易数据公布频度更高，使用更加广泛。
2、服务项的影响越来越大。
过去服务项并不是BOP表研究的重点。
但是最近几年逆差规模增长速度很快。
2015年货物项的顺差为5781亿美元，服务贸易却出现了2094亿美元逆差。
接近一半的货物顺差用来购买国外“服务”了。
服务项中最重要的是旅行服务。
2015年前3个季度有接近1500亿美元旅行服务逆差。
这其中固然有国内居民收入上升，对海外旅游需求上升等因素，但是其中也隐含了一部分居民换汇的需求。
3、投资收益包含外汇储备收益。
投资收益指因金融资产投资而获得的利润、股息（红利）、再投资收益和利息，但金融资产投资的资本利得或损失不是投资收益，而是金融账户统计范畴。
对投资收益的理解要结合另外一张国际投资头寸表。
截止2015年9月底，中国有6.28万亿海外资产，4.74万亿海外负债，但是平均每个月净投资收益是-200亿美元。
国际收支平衡表什么是国际收支平衡表国际收支平衡表（Balance of Payments，简称BOP）是一个反映一个国家与其他国家之间经济往来的统计报表。
它记录了一个国家在一定时期内与其他国家之间的各种经济交易，包括货物出口和进口、服务进出口、资本流动和金融交易等。
国际收支平衡表能够提供有关一个国家经济状况和国际经济关系的重要数据，对于分析和评估一个国家的经济活动具有重要意义。
国际收支平衡表的构成国际收支平衡表由三个主要部分组成：经常账户、资本账户和金融账户。
1. 经常账户经常账户记录的是一个国家的货物和服务的进出口，以及收入和转移支付。
在国际贸易方面，货物贸易涉及到物品的买卖，而服务贸易包括旅游、运输、金融服务等各种服务行业。
此外，经常账户还记录了国家的收入项目，如对外投资的收入和对外债务的支付，以及转移支付，如对外援助、移民汇款等。
2. 资本账户资本账户记录的是一个国家的资本流动。
资本流动包括直接投资、证券投资、债务和银行存款等。
直接投资是指一个国家的企业向其他国家的企业投资，并参与经营管理。
证券投资包括购买和出售股票、债券和其他金融资产。
债务包括借款和还款。
银行存款是指一个国家的居民将资金存放在其他国家的银行中。
3. 金融账户金融账户记录的是一个国家的金融交易。
金融交易包括国际投资、国际贷款和其他与金融市场相关的交易。
国际投资包括企业的直接投资和证券投资。
国际贷款是指一个国家向其他国家提供贷款或从其他国家借款。
其他金融交易包括货币市场操作和外汇交易等。
国际收支平衡表的重要性国际收支平衡表是分析一个国家经济活动和国际经济关系的重要工具。
它提供了有关一个国家经济状况和国际经济关系的详细数据，可以用于以下几个方面：1. 经济政策制定国际收支平衡表可以帮助政府制定经济政策。
通过分析经常账户的情况，政府可以了解国内经济的竞争力和国际贸易的状况，进而制定相应的经济政策。
如果经常账户出现大额逆差，政府可以采取措施鼓励出口，减少对外债务，以平衡国际收支。
Chapter 1I .YES，Please refer to the 1st paragraph of the text.II. 流动性过剩自给自足经济资源直接投资国际收支易货交易出口退税倾销出口型经济增长东道国贸易差额贸易顺差／贸易逆差欧盟国际收支顺差／国际收支逆差有形贸易无形贸易货物贸易服务贸易excess liquidity self-sufficienteconomic resources direct investment balance of payments barterexport tax rebate dumpingexport-driven economic growth host country balance of tradefavorable/unfavorable balance of trade European Unionfavorable/unfavorable balance of payments visible trade invisible trade trade in goods trade in serv icesIIIThe chart above shows the U.S. imports from China, U.S. exports to China and the trade balance . The U.S. has a negative trade balance with China, and it has been growing. During the period fro m 1997 to 2003, imports from China have grown 244% while exports to China have grown 221%, indicating that the trade deficit is increasing. There had already been a sizeable trade balance defi cit with China in 1996, totaling $ 39.5 billion at the end of the year. IV1. Export goods are tangible goods sent out of countries.2. Trade in services are international earnings other than those derived from the exporting and i mporting of tangible goods.3. Import goods are tangible goods brought in.4. International trade is all business transactions that involve two or more countries.5. FDI is one t hat gives the investor a controlling interest in a foreign company.6. Investment is used primarily as financial means for a company to earn more money on its mo ney with relative safety. V1. International trade is the fair and deliberate exchange of goods and/or services across national boundaries. It concerns trade operations of both import and export and includes the purchase and s ale of both visible and invisible goods.2. In today's complex economic world, neither individuals nor nations are self-sufficient. Nation s participate in the international trade for many reasons. As to the economic reasons, no nation has all of the economic resources (land, labor and capital) that it needs to develop its economy and cu lture, and no country enjoys a particular item sufficient enough to meet its needs. As for the prefer ence reasons, international trade takes place because of innovation of style. Besides, every nation can specialize in a certain field and enjoy a comparative advantage in some particular area in term s of trade so that they need to do business with each other to make use of resources more efficientl y and effectively.3. In measuring the effectiveness of global trade, nations carefully follow two key indicators, na mely, balance of trade and balance of payments.4. FDI, the abbreviation form Foreign Direct Investment, means buying of permanent property a nd business in foreign nations. It occurs when acquisition of equity interest in a foreign company is trade. The great significance of FDI for China might be that: FDI solve the problem of capital s hortage for China so that China may spend the money on importing advanced equipment and technologies for its infrastructure, national supporting industry, key projects, etc.Chapter 2 I关税壁垒非关税壁垒从量税配额保护性关税市场失灵幼稚产业许可证制度财政关税政府采购贸易保护主义从价税最低限价本地采购规则增加内需Domestic content Red-tape barriers Export subsidies Binding quota Absolute quotas VERTariff-rate quotas Zero quota"Buy local" rules Tariff barriers non-tariff barriers specific duties quotaprotective tariff market failure infant industry licensing system Revenue tariffgovernment procurement trade protectionism Ad Valorem Duties floor price"buy local" rulesraise domestic demand 国内含量进口环节壁垒出口补贴绑定配额绝对配额自愿出口限制关税配额零配额本地采购原则II1. Protectionism means the deliberate use or encouragement of restrictions on imports to enable re latively inefficient domestic producers to compete successfully with foreign producers. 保护主义是指蓄意使用或鼓励进口限制，以此使本国相对效率低的产品能成功地和外国产品竞争。
国际贸易实务英文版复习资料编者—刘鸿明Chapter 1一、词汇流动性过剩excess liquidity自给自足self-sufficient经济资源economic resources直接投资direct investment国际收支balance of payments易货交易barter出口退税export tax rebate倾销dumping出口型经济增长export-driven economic growth东道国host country贸易差额balance of trade贸易顺差／贸易逆差favorable ／unfavorable balance of trade欧盟European Union国际收支顺差／国际收支逆差favorable ／unfavorable balance of payments有形贸易visible trade无形贸易invisible trade货物贸易trade in goods服务贸易trade in services二、词语填空1.Export goods are tangible goods sent out of countries.2.Trade in services are international earnings other than those derived from the exporting and importing of tangible goods．3.Import goods are tangible goods brought in.4.International trade is all business transactions that involve two or more countries.5.FDI is one that gives the investor a controlling interest in a foreign company.6.Investment is used primarily as financial means for a company to earn more money on its money with relative safety.一、词汇关税壁垒tariff barriers非关税壁垒non-tariff barriers从量税specific duties配额quota保护性关税protective tariff市场失灵market failure幼稚产业infant industry许可证制度licensing system财政关税revenue tariff政府采购government procurement 贸易保护主义trade protectionism 从价税Ad valorem Duties最低限价floor price本地采购规则“buy local”rules 增加内需raise domestic demand Domestic content 国内含量Red-tape barriers 进口环节壁垒Export subsidies 出口补贴Binding quota 绑定配额Absolute quotas 绝对配额VER 自愿出口限制Tariff-rate quotas 关税配额Zero quota 零配额“Buy local”rules本地采购原则一、词汇APEC Asia-Pacific Economic Co-operationFTAAP Free Trade Agreement of Asia and the PacificEU European UnionNAFTA North American Free Trade AgreementMERCOSUR Mercado Comun del Cono Sur /Southern Common Market ASEAN Association of Southeast Asian NationsEFTA European Free Trade AreaAFTA ASEAN Free Trade AreaPTAs Preferential Trade agreementsTrade bloc 贸易集团Trade block 贸易禁运/封锁Open regionalism 开放式区域主义Free trade area 自由贸易区Customs union 关税联盟Common market 共同市场Economic union 经济联盟Trade embargoes 贸易禁运Boycotts 抵制歧视性关税discriminatory tariffs经济制裁economic sanction贸易弹性trade elasticity双边贸易协定bilateral trade agreements多边贸易协定multilateral trade agreements最惠国most favored nation一、词汇GATT General Agreement on Tariffs and TradeHOD Heads of DelegationsTRIPs Trade-Related Aspects of Intellectual Property Rights GATS General Agreement on Trade in ServicesTRIMs Trade Related Investment MeasuresMFN Most Favored Nations最惠国Patronage nations受惠国Favored nations缔约国Contracting Parties市场准入market access透明度transparency紧急进口措施Urgent Importing Measures争端解决机制dispute settlement mechanism可持续发展sustainable development特许经营franchise一、词汇FOB 班轮条件FOB liner term清关customs clearanceFOB 吊钩下交货FOB Under Tackle平舱trim多式联运multimodal transport船舷shipboard内陆水运marine navigation on inland waterway理舱stow卸货费discharge expense投保cover insuranceCFR 卸至岸上（含着陆费）CFR Landed班轮liner单据买卖documentary salesCFR 舱底交货CFR Ex-ship’s HoldCFR 班轮条件CFR liner terms象征性交货symbolic delivery二、词语填空1.Under CFR, buyer should effect insurance.2.Under CIF Ex-Ship’s Hold, buyer should pay the discharge charges.3.Under CIF, the insured amount should be US＄22000 if the contracted price is US＄20000.4.Under CIP, seller has to procure insurance against the buyer’s risk of loss of or damage to thegoods during the carriage.5.The FAS term requires the seller to clear the goods for export.6.The DAT term requires the seller to proceed with the customs clearance for imports andpayment of all customs duty.7.Under DDP, the seller must pay the costs of customs duties as well as all duties, taxes andother official charges payable upon exportation and importation of the goods.8.Under DAP the seller fulfills his obligation as the goods are placed at the disposal of the buyeron the arriving means of transport at the named place of destination, ready for unloading.三、翻译1.The price quoted includes 5％commission on FOB basis.该报价为FOB 的价格并含5％的佣金。
