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1st LD-Writethru: China's current account surplus remains in reasonable range in Q1

Xinhua, May 8, 2017 Adjust font size:

China's current account surplus remained in a reasonable range in the first quarter, the country's foreign exchange regulator said Monday.

The current account surplus stood at 19 billion U.S. dollars in the first quarter, with the goods trade surplus standing at 81.7 billion U.S. dollars while the service trade posting a deficit of 60.1 billion U.S. dollars, the State Administration of Foreign Exchange (SAFE) said in a statement.

The capital and financial account recorded a deficit of 19 billion U.S. dollars in the first quarter, with a deficit of 100 million U.S. dollars for the capital account.

The non-reserve financial account deficit narrowed markedly to stand at21.5 billion U.S. dollars, down 87 percent year on year, as outbound direct investment fell by 64 percent year on year to reach 20.9 billion U.S. dollars.

China's reserve assets including foreign reserves fell by 2.6 billion U.S. dollars in the first three months, narrowing the drop by about 100 percent compared with the previous quarter.

The country's international balance of payment is basically balanced thanks to steady structural reforms and stable economy, the statement added. Endi