China's current account surplus-GDP ratio to fall to 4% in 2011
Updated: 2011-10-24 17:21
BEIJING - China's ratio of current account surplus to its GDP will narrow to around 4 percent this year, the nation's central bank governor Zhou Xiaochuan said Monday.
The ratio was 5.2 percent in 2010 and 2.8 percent in the first half of this year, Zhou said at a financial forum held by the country's Internet postal Sina.com.
The decline in the ratio indicated further improvement in China's international balance of payments, he said. But he added that the surplus in the country's international balance of payments might still be "relatively large" this year.
He also said that the foreign direct investment (FDI) China has attracted this year will be "robust" as international liquidity was ample in the post-financial crisis period and emerging economies were attracting more capital inflows given the grim economic situation in developed economies.
Zhou noted the country's FDI statistics will include that of "hot money" inflows, but did not specify the proportion of FDI it may account for.