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China Q2 current account surplus rises to 59.4 bln USD

Xinhua, August 4, 2016 Adjust font size:

Preliminary figures show that China's current account surplus hit 59.4 billion U.S. dollars in Q2, up from 48.1 billion U.S. dollars in Q1, according to data released by the State Administration of Foreign Exchange (SAFE) on Thursday.

The capital and financial account, however, recorded a deficit of 59.4 billion U.S. dollars in Q2, an increase on the 48.1 billion U.S. dollars deficit in Q1.

In H1, the preliminary current account figures showed a 98.7 billion U.S. dollars surplus, with the capital and financial account recording a 59.5 billion U.S. dollars deficit.

SAFE attributed the strong current account figures due to the large surplus trade in goods, which stood at 125 billion U.S. dollars in Q2, as exports picked up. In Q2, China's exports rose by 1.2 percent year on year, customs data showed.

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