China trims Q1 current account surplus, shifts capital account to surplus

Updated 2017-06-30 09:27:15 Xinhua

China has lowered its current account surplus and revised its estimate for the capital and financial account from a deficit to a surplus.

The first-quarter surplus under the current account was cut to 18.4 billion U.S. dollars from a preliminary figure of 19 billion dollars, data from the State Administration of Foreign Exchange (SAFE) showed on Thursday.

The country posted a 39.3 billion dollars surplus in its capital and financial account in the first three months ending March, a revision from an initial deficit of 19 billion dollars for the period, the SAFE said.

The administration said China's outbound financial assets totaled 6.5 trillion dollars at the end of March, with its outbound direct investment and overseas securities investment standing at 1.3 trillion dollars and 392 billion dollars, respectively.

Its external liabilities reached 4.8 trillion dollars

The SAFE said the data indicated domestic businesses have become more rational in making overseas investment while foreign investors remain upbeat on China's economic outlook and continue to increase investment.

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