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China sees current account surplus in Q3

2019-11-08 17:11

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BEIJING, Nov. 8 (Xinhua) -- China reported a current account surplus in the third quarter, mainly driven by strong external demands for goods.

The surplus in the current account stood at 54.9 billion U.S. dollars in the July-September period, widening from 46.2 billion dollars in the previous quarter, data from the State Administration of Foreign Exchange (SAFE) showed Friday.

Goods trade posted a surplus of 135.2 billion dollars while service trade reported a deficit of 72.4 billion dollars.

In the first three quarters, China's current account surplus came in at 143.2 billion dollars.

"China's international balance of payments has maintained a basic equilibrium, with stable cross-border capital flows," noted Wang Chunying, SAFE spokesperson and chief economist.

Considering China's sound economic fundamentals and opening-up moves, the balance of payments will stay stable for the whole year, Wang added.
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