China's current account surplus of $143.2 billion in the first three quarters of 2019
Xinhua News Agency, Beijing, 8 Nov (Reporter Liu Kaixiong) the State Administration of Foreign Exchange (safe) released preliminary data on China's balance of payments account on 8 November. Data show that in the first three quarters of 2019, China had a current account surplus of $143.2 billion, compared with a deficit of $5.5 billion in the same period last year. Of this total, the balance of payments trade surplus in goods was US $343.5 billion, an increase of 34 percent over the same period last year, while the trade deficit in services was US $201.7 billion, down 12 percent from the same period last year.
According to preliminary statistics, there was a net direct investment inflow of $27.7 billion in the first three quarters of 2019. Of this total, the net outflow of foreign direct investment was $69.3 billion, while the net inflow of foreign direct investment to China was $97 billion, which remained at a relatively high level. In the first three quarters of 2019, China's securities investment surplus was about $40 billion. Of this total, China has invested more than US $60 billion in foreign securities and more than US $100 billion in securities investment in China. Taking into account the exchange rate, prices and other non-trading factors, at the end of September 2019, the balance of reserve assets in China was $3.2045 trillion, an increase of $36.5 billion over the end of 2018.
"in the first three quarters of 2019, China showed a current account surplus, direct investment in China remained on a high scale, securities investment showed a surplus, two-way capital flows were active, and reserve assets were basically stable." Wang Chunying, spokesman for the State Administration of Foreign Exchange and chief economist, said: on the whole, in the context of China's long-term improvement in economic fundamentals and the sustained promotion of all-round opening up to the outside world, It is expected that the balance of payments for the whole year will continue to show an overall stable and basically balanced pattern.