Your current location:HOME >travel >China's current account surplus remains in reasonable range 正文
TIME:2024-05-07 21:44:39 Source: Internet compilationEdit:travel
Video PlayerCloseBEIJING, Sept. 28 (Xinhua) -- China's current account surplus remained in a reasona
Video PlayerClose
BEIJING, Sept. 28 (Xinhua) -- China's current account surplus remained in a reasonable range in the first half of this year, the country's foreign exchange regulator said Thursday.
The current account surplus stood at 69.3 billion U.S. dollars in the first six months, accounting for 1.2 percent of the nationalGDP, according to the State Administration of Foreign Exchange (SAFE).
The non-reserve financial account recorded a surplus of 67.9 billion dollars, SAFE data showed.
A surplus in both accounts showed improvement in the economic structure, stable cross-border capital flow and controllable risks in the balance of payments, SAFE said in a report.
China will see basic equilibrium in the balance of payments in the second half of this year, a SAFE statement quoted an unnamed spokesperson as saying.
Positive factors will include a recovering global economy, stabilizing commodities prices, a steady domestic economy and greater opening-up of the financial market, the SAFE spokesperson said.
Meanwhile, the SAFE report said it needs to keep a close eye on the influence of the U.S. Federal Reserve's plan to start unwinding its balance sheet from October, a further step to end its loose monetary policy.
As the world's biggest emerging market economy, China will inevitably face certain pressure on capital flow, according to the report.
However, it said the Fed's pace of normalizing its monetary policy has been relatively steady, noting that economic fundamentals remain the key to guard against risks.
China's economic development has been stable with a positive outlook, a current account surplus, controllable external debt and around 3 trillion dollars of forex reserves, all of which will cushion the economy against changes in the external environment, according to SAFE.
The current account surplus for the second quarter of this year stood at 50.9 billion dollars, while the quarterly non-reserve financial account surplus was 31.1 billion dollars.
The country's international investment position is also sound, with 1.75 trillion dollars of net external assets at the end of June, according to SAFE.
Bernie Sanders campaigns for Biden while raising concerns about Gaza2024-05-07 21:43
CPPCC Beijing Municipal Committee Convenes Gathering to Mark Int'l Women's Day2024-05-07 21:25
Guangzhou Increases Efforts to Help Women Protect Rights, Interests2024-05-07 21:23
Helping Residents Understand Law2024-05-07 21:10
Biden bows to pressure from anti2024-05-07 20:45
Greater Bay Area Women in Science and Technology Forum Held in Shenzhen2024-05-07 20:23
Guangzhou Increases Efforts to Help Women Protect Rights, Interests2024-05-07 20:14
Micro Courts Provide Legal Services to Women2024-05-07 19:45
Bank holiday booze2024-05-07 19:09
Federation Helps Women Better Understand Laws2024-05-07 18:58
Biden bows to pressure from anti2024-05-07 21:44
Greater Bay Area Women in Science and Technology Forum Held in Shenzhen2024-05-07 20:52
Hotlines Provide Rights2024-05-07 20:51
Hotlines Provide Rights2024-05-07 20:38
Palace rout demoralized Man United 42024-05-07 20:17
University, Association Help Workers Improve Ability to Combat Domestic Violence2024-05-07 19:55
Village Officials Help Residents Resolve Marital, Family Disputes2024-05-07 19:31
Ordos Protects Women Employees' Rights2024-05-07 19:22
Key events of Vladimir Putin's 24 years in power in Russia2024-05-07 19:18
Organizations Strengthen Cooperation to Improve Family Mediation Services2024-05-07 19:10