The Causes Of China's International Payment Surplus In Recent Years

China's Balance of Payments have experiencecd "Double Surplus"——Current Account Surplus and Capital and Financial Account Surplus since 199O's,especially,the scope of "Double Surplus" will expand continuously. It is very uncommonly in the international economy that the situation of China's "Double Surplus"for 16 years.Because of the influence of the internal and external causes,for example, historial causes,policial causes,external causes, the scope of China's "Double Surplus"will not disappear for a short time,besides,it's harm for the development of our economy.So,it is very important to find the causes of "Double Surplus".This paper first analyses the minterms in the balance of international payments,and then research the situation of Current Account Surplus and Capital and Financial Account Surplus.By the way of the theorial analyses,the causes of the China's "Double Surplus":the internal economic structure of high rate of saving,low consumption,high investment,the revaluation pressure of Renminbi, strict of the situation of getting a job,expanding of the scope of FDI,are all related to its fast accumulation.And then sum up the most important factors by the empirical study,that is,the change of rate of saving,degree of openness and the the revaluation pressure of Renminbi are the important factors to Current Account Surplus.Cost of carry,the investment gap and streaming of external FDI are the important factors to Capital and Financial Account Surplus.In the end this paper bring up the suggestions,such as carrying out expanding internal demand,introducing the foreign fund selectedly,perfecting the rate of currency,in order to improve the current situation of China's "Double Surplus".The adjustment of Balance of Payments maybe takes a long time.In the long term,in fact,the economic structure and the development stage really determine the condition of Balance of Payments.