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China’s capital account deficit widens in Q3

Updated: Oct 31,2014 9:41 AM     Xinhua

China’s capital and financial account deficits widened in the third quarter, as the country became a net capital exporter, according the State Administration of Foreign Exchange (SAFE) on Oct 30.

The capital account deficit expanded to 502 billion yuan ($81.6 billion), compared with $16.2 billion in the April-June period. There was surplus of $94 billion in the first quarter.

The capital account deficit comes as China invests more aggressively overseas using the huge current account surplus accumulated through foreign trade. Q3’s current account surplus stood at $81.5 billion.

For the first nine months, China’s total capital and financial account was $14.1 billion, in contrast with a current account surplus of $162 billion.