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Monday, November 05, 2018, 23:35
China reports current account deficit in Jan-Sept period
By Xinhua
Monday, November 05, 2018, 23:35 By Xinhua

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

BEIJING – China's deficit in the current account stood at 12.8 billion in US dollar terms in the January-September period, data showed.

That was down from US$28.3 billion in the first half of the year, the State Administration of Foreign Exchange (SAFE) said Monday in an online statement.

China's service trade posted a deficit of US$229.5 billion, up from US$147.3 billion in H1. 

READ MORE: China sees current account deficit in H1

The spending on trips, transport and intellectual property rights contributed to the bulk of the deficit.

China has taken steps to improve its service trade, including gradually opening up its finance, education, culture and medical sectors.

ALSO READ: China focuses on risk control as economy firms

SAFE said China's international balance of payments was within a range of equilibrium last quarter and will continue to remain reasonable in the future.

China saw a goods trade surplus of US$256.1 billion in the first three quarters.


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