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China sees global balance of payments glut in H1
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CHINA’S international balance of payments showed a surplus in the first half of the year, with the surplus under the current account at US$80.5 billion, the State Administration of Foreign Exchange said yesterday.
During the period, the country’s capital and financial accounts also had a surplus of US$77.8 billion, SAFE said.
The goods trade surplus was US$149.3 billion while service trade had a deficit of US$62.5 billion and current transfers had a US$11.8 billion gap, SAFE data showed.
Meanwhile, the net inflow of direct investment was US$93 billion and that for securities investment stood at US$36.9 billion, in contrast to an outflow of US$51.7 billion, the data showed.
Based on the surplus reports, China’s international reserve assets (excluding the influence of exchange rates and prices) jumped by US$147.9 billion during the period.
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