Off the wire
• Indian stocks edge lower  • Hungary plans further border-tightening: gov't official  • 1st LD-Writethru: China's first home-grown maglev in operation  • Case closed! Missing nature reserve camera stolen by weasels  • Ancient coins unearthed in Everest temple  • China says debt risks in major state firms controllable  • Xinjiang to strengthen preschool bilingual education  • Taliban group commander detained in eastern Afghanistan  • Weather forecast for world cities -- May 6  • Weather forecast for major Chinese cities, regions -- May 6  
You are here: 　 Home

China's capital account deficit narrows in Q1

Xinhua, May 6, 2016 Adjust font size:

China's capital and financial account deficit narrowed in the first quarter of 2016, adding to signals of easing capital outflow pressure, official data showed Friday.

The deficit under the capital and financial account stood at 48.1 billion U.S. dollars for the three months ending in March, according to preliminary statistics released by the State Administration of Foreign Exchange (SAFE).

That was down from a final count of 50.6 billion U.S. dollars in the fourth quarter of 2015.

SAFE releases both preliminary and final figures on the balance of international payments each quarter.

Until recently, concerns about capital outflows had been on the rise as the economy slowed and the Chinese currency had fallen since China revamped its forex mechanism last year.

But resumed stability in international financial markets and positive signs in the domestic economy have reduced the pressure of capital outflow since the start of this year.

China's reserve assets, most of which are foreign exchange reserves, dropped 123.3 billion U.S. dollars in the first quarter, compared with a decrease of 115.3 billion U.S. dollars in the fourth quarter of 2015, according to SAFE.

The country reported a current account surplus of 48.1 billion U.S. dollars in the first quarter, down from 91.9 billion U.S. dollars in the previous quarter. Endi