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China's current account surplus rises in Q3

Xinhua | Updated: 2016-12-30 20:35

BEIJING -- China's current account surplus rose to $69.3 billion in the third quarter, up 8 percent year on year.

During the same period, the proportion of China's current account surplus to GDP rose to 2.4 percent from 2 percent in the previous quarter, the State Administration of Foreign Exchange said in a statement.

China's current account surplus "still remains at a reasonable level," the statement said.

The goods trade surplus, a major contributor to the current account surplus, jumped 9 percent quarter on quarter to 137 billion U.S. dollars in the third quarter.

The service trade deficit narrowed to $69.5 billion between July and September.

China's current account has been in surplus for 22 years, mainly due to exports of manufactured goods. The proportion of the surplus to China's GDP reached a peak of 10 percent in 2007.

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