BUSINESS China reports current account surplus in Q1


China reports current account surplus in Q1


21:02, May 12, 2023

Aerial photo taken on Jan. 26, 2022 shows a cargo vessel at Rizhao Port in east China's Shandong Province. (File photo: Xinhua)

BEIJING, May 12 (Xinhua) -- China's current account surplus was 82 billion U.S. dollars in the first quarter of the year, official data showed on Friday.

The current account surplus to gross domestic product ratio was 2 percent during the period, according to the State Administration of Foreign Exchange.

Of the total, the surplus under trade in goods came in at 129.9 billion dollars, and the deficit under trade in services stood at 47 billion dollars, the data showed.

The Chinese economy has maintained its growth momentum, which helps underpin the country's balance of payments, said Wang Chunying, deputy head of the administration.

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