China sees surplus on inflow of capital
Print Edition
China yesterday reported a surplus in both its current and capital accounts last year as the country attracted foreign capital amid global economic uncertainties.
The country posted a surplus of US$188.6 billion in its current account, which measures foreign trade, for 2013, the State Administration of Foreign Exchanges said in a statement yesterday.
In 2012, China had a surplus of US$193.1 billion in the current account.
Under the capital and financial account, which measures net inflows of investment funds, China had a surplus of US$242.7 billion, a reversal from a deficit of US$16.8 billion in 2012.
In the fourth quarter of last year, China’s foreign exchange reserves rose by US$131 billion, or US$2.2 billion a day, to US$3.82 trillion by the year-end.
Economists cited China’s improving exports, recovering economic data in the second half, the yuan’s appreciation against the US dollar and relatively high interest rates resulting in an inflow of foreign capital for the positive figures.
“The inflow of foreign currencies is closely related to expectations for the yuan’s appreciation, and such expectations are still high in the market,” CITIC Securities Co wrote in a report. “Foreign investors are still positive about the long-term economic outlook for China supported by the government’s push for reforms.”
Standard Chartered Bank’s China chief economist Stephen Green said China will continue to build up foreign capital assets this year by around US$600 billion.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
