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China’s current account surplus remains in reasonable range in 2017

Updated: Feb 8,2018 8:25 PM     Xinhua

BEIJING — China’s current account surplus stayed at a reasonable range in 2017 as the country reversed a net capital outflow to a balanced level, the country’s top exchange rate regulator said on Feb 8.

The current account surplus stood at $172 billion in 2017. The capital and financial account recorded a deficit of $9.1 billion, according to the State Administration of Foreign Exchange (SAFE).

The non-reserve financial account posted a surplus of $82.5 billion, according to a SAFE report.

The data pointed to balanced cross-border capital flow and stable international payment sheet of the world’s second largest economy, an unnamed SAFE official said.

With China’s economy firming up, the foundation for a balanced international payment sheet will be more solid, the official said.

China’s foreign exchange reserves rose for the 12th straight month to reach $3.2 trillion at the end of January.

China’s economy grew 6.9 percent in 2017, topping both the official target and 2016 growth.