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SAFE expects int'l payment surplus in 2011

SAFE expects int'l payment surplus in 2011

Write: Alejandro [2011-05-20]
SAFE expects int'l payment surplus in 2011

China is set to maintain an international payment surplus in 2011, the State Administration of Foreign Exchange (SAFE) said on its website on April 1.

The SAFE said in the 2010 China international payment report that China's current account surplus rose 17 percent year-on-year to $305.4 billion, and surplus in the capital and financial account came to $226 billion, representing an increase of 25 percent year-on-year.

The SAFE said that China will remain attractive to foreign capital, as the rising global economy boosts international trade and investment.

Meanwhile, the margins of exchange rates and interest rates may accelerate the pace of the country's net capital inflow, said the foreign exchange regulator.

The SAFE also pledged to keep a close eye on cross-border capital flow, and prevent a "hot money" inflow.

Source:China Daily