China sees surplus in international payments
Print Edition
China’s international balance of payments showed a surplus in the third quarter of this year, marking the fourth straight quarter of surpluses, according to data released yesterday.
The surplus under the current account totaled US$39.7 billion in the three months, the data released by the State Administration of Foreign Exchange showed.
Specifically, the goods trade surplus reached US$87.1 billion while the service trade and current transfers suffered deficits of US$42.5 billion and US$1.1 billion, respectively, the data showed.
Meanwhile, China also reported a surplus of US$57.3 billion under the capital and financial accounts in the third quarter. Net inflows of direct investment totaled US$40.7 billion.
The surpluses boosted China’s international reserve assets by US$97 billion. Foreign exchange reserve assets rose by US$97.6 billion while China’s special drawing rights and the reserve position in the International Monetary Fund fell US$500 million, the data showed.
For the first three quarters, the current account surplus was US$138.2 billion while that under the capital and financial account was US$162.4 billion. These pushed the nation’s international reserve assets to grow US$300.6 billion during the same period.
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