China's Q1 current account surplus hits record high-Xinhua

China's Q1 current account surplus hits record high

Source: Xinhua

Editor: huaxia

2022-06-24 20:14:28

BEIJING, June 24 (Xinhua) -- China's current account surplus reached 88.9 billion U.S. dollars in the first quarter of 2022, the highest level recorded in the same period in history, official data showed Friday.

The ratio of the current account surplus against the same quarter's gross domestic product was 2.1 percent, said Wang Chunying, deputy head of the State Administration of Foreign Exchange.

China's balance of international payments remains reasonable, she said.

In the first quarter, imports and exports of goods maintained steady growth, the deficit of service trade continued to narrow, and cross-border two-way investment and financing turned more active, she said.

The current account surplus includes a surplus of 145 billion U.S. dollars under trade in goods, up 18 percent year on year.