business

China reports current account surplus in Q3

BEIJING, Nov. 6 (Xinhua) — China saw a current account surplus in the third quarter (Q3) as the country’s economy recovered amid effective control of the COVID-19 epidemic.

The current account surplus reached 94.2 billion U.S. dollars in Q3, data from the State Administration of Foreign Exchange (SAFE) shows.

Trade in goods posted a surplus of 155.4 billion dollars, while trade in services saw a deficit of 40.4 billion dollars.

In the first three quarters of this year, the country saw a current account surplus of 170.7 billion dollars, accounting for 1.7 percent of the country’s GDP, said Wang Chunying, deputy director and spokesperson of SAFE.

Due to the sustained and stable recovery of the domestic economy and the two-way opening-up of the financial market, cross-border capital flows have become more active, Wang said.

Wang expected international payments to remain generally stable and basically balanced. 

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