China reports Q3 surplus in international balance of payments

Date : 2013-10-31  | From : Xinhua

The latest data indicated China's international balance of payments showed a surplus in the third quarter of the year, marking the fourth straight quarter of surpluses.

In the third quarter of 2013, the surplus under the current account totaled 39.7 billion U.S. dollars, according to data released by the State Administration of Foreign Exchange (SAFE).

Specifically, the goods trade surplus reached 87.1 billion U.S. dollars while deficits were recorded in service trade and current transfers at 42.5 billion U.S.dollars and 1.1 billion U.S. dollars, respectively, the data showed.

Meanwhile, China also reported a surplus under the capital and financial accounts totaling roughly 57.3 billion U.S. dollars in the third quarter. Net inflows of direct investment amounted to 40.7 billion U.S. dollars.

Based on the surplus reports, China's international reserve assets (excluding the influence of exchange rates and prices) showed a rise of 97 billion U.S. dollars. Foreign exchange reserve assets rose by 97.6 billion U.S. dollars while China's special drawing rights and the reserve position in the International Monetary Fund saw a drop of 500 million U.S. dollars, the data showed.

For the first three quarters of 2013, the surplus under the current account was 138.2 billion U.S. dollars while that under the capital and financial account stood at 162.4 billion U.S. dollars. These pushed the nation's international reserve assets to grow 300.6 billion U.S. dollars during the same period.