This undated file photo shows the headquarters of the State Administration of Foreign Exchange (SAFE), in Beijing, China. (PHOTO / XINHUA)
BEIJING — China reported a current account surplus of US$106 billion in the first half of 2019, amid expectations of stable economic growth.
It is expected that China's current account will remain in a reasonable range throughout the year, maintaining a modest surplus, and the international balance of payments will maintain a basic equilibrium
Wang Chunying, SAFE spokesperson
The reading equals 1.6 percent of the country's gross domestic product, data from the State Administration of Foreign Exchange (SAFE) showed.
Goods trade posted a surplus of US$222.8 billion during the period, while service trade reported a deficit of US$129.3 billion, narrowing by 12 percent year on year.
"It is expected that China's current account will remain in a reasonable range throughout the year, maintaining a modest surplus, and the international balance of payments will maintain a basic equilibrium," said Wang Chunying, SAFE spokesperson and chief economist, Friday at a press conference.
China's economy is expected to maintain stability with further opening-up measures, and liberalization and facilitation of trade and investment will see further improvement, Wang noted.
The SAFE data also showed that China's non-reserve financial account continued to see net inflows in H1. Direct investment posted a surplus of US$33.6 billion, while securities investment also reported a surplus.
ALSO READ: China sees current account surplus in Q1
Copyright 1995 - 2020. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily. Without written authorization from China Daily, such content shall not be republished or used in any form.
HONG KONG NEWS