Your current location:HOME >health >China's current account surplus remains in reasonable range 正文
TIME:2024-05-21 17:59:02 Source: Internet compilationEdit:health
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.
The fightback begins: Boss of London's Queen Mary University tells pro2024-05-21 17:37
Navy surgeon who operated on 122024-05-21 17:29
'Deeply concerned' with China doping allegations, US drug czar sends letter to anti2024-05-21 17:08
Top US and Chinese officials begin talks on AI in Geneva2024-05-21 16:54
Independent UN experts urge Yemen’s Houthis to free detained Baha'i followers2024-05-21 16:19
8 dead, dozens injured in farmworkers bus crash in central Florida2024-05-21 16:17
Mainland says flight route adjustment benefits both sides of Taiwan Strait2024-05-21 15:34
Wisconsin GOP2024-05-21 15:29
Kate Hudson hits the stage to debut songs from her new album Glorious at star2024-05-21 15:21
Estate agent's 'charming' £125,000 three2024-05-21 15:17
French sports minister calls for sanctions after Monaco player tapes over anti2024-05-21 17:46
CANNES DIARY: Behind the scenes of the 2024 film festival2024-05-21 17:17
NC State, Baylor headline the field for the 2025 Maui Invitational as it returns to Lahaina2024-05-21 17:03
Julia Louis2024-05-21 16:54
Brazil replaces injured goalkeeper Ederson in Copa America squad2024-05-21 16:51
Tennessee governor OKs bill allowing death penalty for child rape convictions2024-05-21 16:29
NC State, Baylor headline the field for the 2025 Maui Invitational as it returns to Lahaina2024-05-21 16:10
Connecticut GOP faces potential Aug. 13 primary to choose final candidate to challenge Sen. Murphy2024-05-21 15:58
Storms damage homes in Oklahoma and Kansas. But in Houston, most power is restored2024-05-21 15:47
FBI, Homeland Security warn of possible threats to LGBTQ events, including Pride Month activities2024-05-21 15:47