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China’s current account surplus remains reasonable

Updated: Dec 28,2017 9:21 PM     Xinhua

BEIJING — China’s current account surplus remained in a reasonable range in the first three quarters of this year, the country’s foreign exchange regulator said on Dec 28.

The current account surplus stood at $109.8 billion in the first three quarters, accounting for 1.3 percent of GDP, according to the State Administration of Foreign Exchange (SAFE).

The non-reserve financial account recorded a surplus of $112.1 billion, compared with a deficit of $313.9 billion in the same period of last year, SAFE data showed.

A basic equilibrium in the balance of payments will continue due to stronger external demand, sound economic growth and opening up of the financial market, according to SAFE.

Reserve assets remained the world’s largest, with steady outbound and inbound investment.

As of the end of September, China’s external assets reached $6.8 trillion and its external debts stood at $5.1 trillion, up 5 percent and 9 percent, respectively, from the end of last year.