Q3 Int'l Balance of Payments in Surplus

The latest data indicated China's international balance of payments showed a surplus in the third quarter of the year, marking the fourth straight quarter of surpluses.

In the third quarter of 2013, the surplus under the current account totaled US$39.7 billion, according to data released by the State Administration of Foreign Exchange (SAFE).

Specifically, the goods trade surplus reached US$87.1 billion while deficits were recorded in service trade and current transfers at US$42.5 billion and US$1.1 billion, respectively, the data showed.

Meanwhile, China also reported a surplus under the capital and financial accounts totaling roughly US$57.3 billion in the third quarter. Net inflows of direct investment amounted to US$40.7 billion.

Based on the surplus reports, China's international reserve assets (excluding the influence of exchange rates and prices) showed a rise of 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 saw a drop of US$500 million, the data showed.

For the first three quarters of 2013, the surplus under the current account was US$138.2 billion while that under the capital and financial account stood at US$162.4 billion. These pushed the nation's international reserve assets to grow US$300.6 billion during the same period.