China’s Balance of Payments Stable in Second Quarter: Forex Regulator

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China’s State Administration of Foreign Exchange (SAFE) said that preliminary data indicates the country’s balance of payments remained stable in the second quarter of 2018, while its reserve assets posted an increase.

Official data indicates that China’s current account surplus was 36.9 billion yuan (approx. USD$5.8 billion) for the second quarter, while its capital and financial account deficit was also 36.9 billion yuan. Reserve assets saw an increase of 152.6 billion yuan during the period.

An official spokesperson for SAFE said that China’s balance of payments had remained stable overall for the second quarter, and that over the past several years the current account had entered a period of balance, with only modest deficits or surpluses that are categorised as stable.

in future, China’s current account will remain within “rational territory,” and the balance of payments will continue to remain stable in general.

 

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