China reports current account surplus in H1
Source: Xinhua | 2021-08-07
China maintained a basic balance in its international payments in the first half (H1) of this year, with a reasonable level of current account surplus, the State Administration of Foreign Exchange said Friday.
The country reported a current account surplus of 122.2 billion U.S. dollars in H1, accounting for 1.5 percent of its gross domestic product (GDP) during the period, said Wang Chunying, spokesperson with the administration.
Trade in goods posted a surplus of 230.6 billion dollars in H1, up 35 percent year on year. Both exports and imports saw notable recovery as external and domestic demand bounced back.
Trade in services saw a deficit of 43.8 billion dollars, down 43 percent year on year. The deficit in the travel sector declined 28 percent from a year ago to 44.4 billion dollars as cross-border tourism and study abroad were affected by the spread of COVID-19 overseas, Wang said.
The administration also noted that the country saw a relatively high foreign direct investment inflow in H1, while outbound direct investment remained stable.
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