We present a current and charge conserving theory for the low frequenc
y admittance of a quantum point contact. We derive expressions for the
electrochemical capacitance and the displacement current. The latter
is determined by the emittance which equals the capacitance only in th
e limit of vanishing transmission. With the opening of channels the ca
pacitance and the emittance decrease in a steplike manner in synchroni
sm with the conductance steps. For vanishing reflection, the capacitan
ce vanishes and the emittance is negative.