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China's current account surplus grows

Xinhua, March 31, 2016 Adjust font size:

China's current account surplus was 330.6 billion U.S. dollars last year, up from 219.7 billion U.S. dollars in 2014, the top foreign exchange regulator said Thursday.

The goods-trade surplus hit 567 billion U.S. dollars in 2015, but the service trade posted a deficit of 182.4 billion U.S. dollars, the State Administration of Foreign Exchange said in a statement on its website.

Deficit under the capital and financial account rose to 142.4 billion U.S. dollars at the end of December, up from 63.4 billion U.S. dollars in the third quarter of 2015, according to the statement.

Reserve assets, most of which are foreign exchange reserves, decreased by 342.9 billion U.S. dollars last year, compared with an increase of 118.8 billion U.S. dollars in 2014.

China started to post deficits on its capital and financial accounts in the second quarter of 2014 due to rapid increases in overseas investment and speculation on the depreciation of the yuan. Endi