US EUROPE AFRICA ASIA 中文
Business / Markets

China's current account surplus continues

(Xinhua) Updated: 2014-07-31 09:59

BEIJING - China's current account surplus in the second quarter reached $72.2 billion, the State Administration of Foreign Exchange said on Wednesday.

The goods trade surplus hit $109 billion, but the service trade posted a deficit of $29.6 billion.

A surplus of capital and financial accounts totalled $36.9 billion in the April-June period. Net inflows of direct investment amounted to $40.3 billion.

Due to the surpluses, China's international reserve assets increased by $35.3 billion. Among the assets, foreign exchange reserve assets (excluding the influence of exchange rates and prices) rose by $35.7 billion. Special drawing rights and the reserve position in the International Monetary Fund saw a drop of $300 million.

For the first half year, the current account surplus was $79.3 billion while the capital and financial account stood at $81.5 billion, resulting in an increase of $160.8 billion in international reserve assets.

The country has witnessed quarterly surpluses in both accounts - the current account and the capital and financial account -- since the final quarter of 2012. This may add to appreciation pressure on the yuan and incur problems from international speculative capital inflow.

China's current account surplus continues

China's current account surplus continues

'Further volatility' for capital flows in H2 External debt level under control, SAFE says

Hot Topics

Editor's Picks
...
...