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China reports surpluses under current, capital accounts in Q1
May 24, 2011, Tuesday
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China posted surpluses under both the current account and capital and financial account in the first quarter, according to data released by the State Administration of Foreign Exchange today.
The surplus under the current account, which measures China's foreign trade, reached US$29.8 billion in the first quarter, down 18 percent from a year earlier, SAFE said on its website.
For the capital and financial account, China reported a surplus of US$111.4 billion, including US$42.6 billion of net inflow of foreign direct investment, according to the SAFE.
The surpluses under the current and capital and financial accounts raised China's international reserve assets by US$141.2 billion in the first quarter, of which US$138 billion was kept as foreign exchange reserves.
By the end of March, China's foreign exchange reserves hit US$3.04 trillion, up 24.4 percent year-on-year, according to figures from China's central bank.
The surplus under the current account, which measures China's foreign trade, reached US$29.8 billion in the first quarter, down 18 percent from a year earlier, SAFE said on its website.
For the capital and financial account, China reported a surplus of US$111.4 billion, including US$42.6 billion of net inflow of foreign direct investment, according to the SAFE.
The surpluses under the current and capital and financial accounts raised China's international reserve assets by US$141.2 billion in the first quarter, of which US$138 billion was kept as foreign exchange reserves.
By the end of March, China's foreign exchange reserves hit US$3.04 trillion, up 24.4 percent year-on-year, according to figures from China's central bank.
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