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Outflow of capital less than feared, analysts say

Updated: 2012-12-28 07:39
By Wang Xiaotian ( China Daily)

China's capital and financial account deficit in the third quarter was revised down to $51.7 billion from the previous figure of $71 billion, the State Administration of Foreign Exchange said on Wednesday.

The net inflow of foreign direct investment was $38.5 billion. Excluding the effect of fluctuations in exchange rates and asset prices, the country's international reserve assets declined by $400 million in the third quarter, the administration said in a statement.

Although the capital and financial deficit was revised downwards, it remains higher than the second-quarter figure of $41.2 billion, suggesting a larger amount of capital outflows than three months earlier.

Outflow of capital less than feared, analysts say