China's reserve assets increases in 2018

BEIJING - China's reserve assets increased by $18.9 billion in 2018, the State Administration of Foreign Exchange said Friday.

The country's current account surplus stood at $49.1 billion last year, down from the 2017 level of $195.1 billion, the administration said, describing the current account as "remaining basically balanced."

China's current account has witnessed a surplus for 25 consecutive years, and the surplus peaked at more than $420 billion in 2008.

The country's capital and financial account recorded a surplus of $111.1 billion in 2018. The capital account posted a deficit of $600 million, while the non-reserve financial account reported a surplus of $130.6 billion.

As of the end of 2018, China's external financial assets reached $7.32 trillion and its external debts stood at $5.19 trillion.