This undated photo shows the headquarters of the State Administration of Foreign Exchange (SAFE), in Beijing, China. (PHOTO/ XINHUA)

BEIJING — China saw a current account deficit in the first quarter of this year amid disruptions brought about by the COVID-19 pandemic.

The current account deficit stood at US$33.7 billion in Q1, data from the State Administration of Foreign Exchange showed

The current account deficit stood at US$33.7 billion in Q1, data from the State Administration of Foreign Exchange (SAFE) showed.

The capital and financial account recorded a surplus of US$11.1 billion.

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Goods trade posted a surplus of US$23.1 billion, while trade in services saw a deficit of US$47 billion.

During the period, the net inflow of foreign direct investment was US$34.3 billion, an indication that foreign capital was strongly drawn to China, said Wang Chunying, SAFE spokeswoman and chief economist.

China's balance of payments remained generally balanced in Q1, with stable capital flows, Wang said.

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As business and production activities in China are gradually getting back on track, the balance of payments will stay stable in the future, she said, citing the country's sound economic fundamentals and opening-up moves.