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China Daily Website

Q3 intl balance of payments in surplus

Updated: 2013-10-31 09:28
( Xinhua)

BEIJING -- The latest data indicated China's international balance of payments showed a surplus in the third quarter of the year, marking the fourth straight quarter of surpluses.

In the third quarter of 2013, the surplus under the current account totaled $39.7 billion, according to data released by the State Administration of Foreign Exchange (SAFE).

Specifically, the goods trade surplus reached $87.1 billion while deficits were recorded in service trade and current transfers at $42.5 billion and $1.1 billion, respectively, the data showed.

Meanwhile, China also reported a surplus under the capital and financial accounts totaling roughly $57.3 billion in the third quarter. Net inflows of direct investment amounted to $40.7 billion.

Based on the surplus reports, China's international reserve assets (excluding the influence of exchange rates and prices) showed a rise of $97 billion. Foreign exchange reserve assets rose by $97.6 billion while China's special drawing rights and the reserve position in the International Monetary Fund saw a drop of $500 million, the data showed.

For the first three quarters of 2013, the surplus under the current account was $138.2 billion while that under the capital and financial account stood at $162.4 billion. These pushed the nation's international reserve assets to grow $300.6 billion during the same period.