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China sees big surplus in H1 current account

Xinhua, September 30, 2015 Adjust font size:

China saw huge surplus in its current account in the first half of the year, its foreign exchange regulator said on Wednesday.

The surplus stood at 148.6 billion U.S. dollars, up 85 percent over the same period last year, according to the State Administration of Foreign Exchange (SAFE.

The SAFE attributed the surge to a surplus in goods trading, which stood at 256.6 billion U.S. dollars, up 73 percent.

Services trading reported a deficit of 94.5 billion U.S. dollars in the first six months, up 53 percent.

In the Jan.-June period, the capital and financial account registered a deficit of 125.6 billion U.S. dollars, the SAFE said.

China's foreign exchange reserve decreased 66.6 billion U.S. dollars in the first six months, after decreasing 79.5 billion dollars in the first quarter and adding 13 billion dollars in the second.

The SAFE predicted that in the second half of the year China's current account will continue to see surplus while deficit will remain in the capital and financial account. Endi