Accounts record surpluses
By Louise Ho |
January 12, 2012, Thursday
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Print Edition
Print Edition
CHINA posted surpluses in its current account and capital account in the third quarter of last year, the State Administration of Foreign Exchange said yesterday.
Its surplus in the current account, a measure of a country's foreign trade, reached US$53.4 billion in the third quarter of 2011. The amount fell from the second quarter's US$59 billion as domestic demand increased its contribution to China's economy.
The capital and financial account surplus totaled US$66.2 billion over the same period, with net direct investment inflows accounting for about 40 percent of the surplus at US$28.7 billion.
China's international reserves also grew US$91.7 billion.
Its surplus in the current account, a measure of a country's foreign trade, reached US$53.4 billion in the third quarter of 2011. The amount fell from the second quarter's US$59 billion as domestic demand increased its contribution to China's economy.
The capital and financial account surplus totaled US$66.2 billion over the same period, with net direct investment inflows accounting for about 40 percent of the surplus at US$28.7 billion.
China's international reserves also grew US$91.7 billion.
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