CHINA China reports current account surplus in third quarter

CHINA

China reports current account surplus in third quarter

Xinhua

08:29, December 26, 2020

Photo taken on Oct. 12, 2020 shows a view of Shenzhen, south China's Guangdong Province. (Photo: Xinhua)

BEIJING, Dec. 25 (Xinhua) -- China saw a current account surplus in the third quarter (Q3) as the economy recovered amid effective epidemic control, official data showed Friday.

The current account surplus stood at 92.2 billion U.S. dollars in Q3, shrinking from 110.2 billion U.S. dollars in Q2, according to data released by the State Administration of Foreign Exchange.

Trade in goods posted a surplus of 155.8 billion U.S. dollars, while trade in services saw a deficit of 40.3 billion U.S. dollars.

The capital and financial account recorded a deficit of 50.5 billion U.S. dollars.

In the first three quarters of the year, the country saw a current account surplus of 168.7 billion U.S. dollars, accounting for 1.6 percent of the country's GDP, according to the administration.

The administration expects a stable balance of payments for the whole year.

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