BUSINESS China's 2018 current account stays in reasonable surplus range

BUSINESS

China's 2018 current account stays in reasonable surplus range

Xinhua

20:27, February 15, 2019

BEIJING, Feb. 15 (Xinhua) -- China's current account stayed in a reasonable surplus range in 2018, official data showed Friday.

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File photo: VCG

The country's current account registered a surplus of $49.1 billion last year thanks to robust surplus growth in the last quarter, according to the State Administration of Foreign Exchange (SAFE).

China's reserve assets grew $18.9 billion last year, with an increase of $18.2 billion in the forex reserve.

The non-reserve financial account posted a surplus of $60.2 billion as direct investment reported a net inflow of $107.4 billion, surging 62 percent year on year.

Cross-border capital flow is expected to be generally stable, and the international balance of payments will also maintain basic equilibrium, according to SAFE spokeswoman Wang Chunying.

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