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China ran surplus under current, capital accounts

China ran surplus under current, capital accounts

Write: Nadine [2011-05-20]

BEIJING - China continued to run a surplus both under current account as well as capital and financial accounts last year, the State Administration of Foreign Exchange (SAFE) said Monday.

The surplus under current account totaled $297.1 billion, down 32 percent year on year, and that under capital and financial accounts rose 6.64 times to $144.8 billion, according to a 2009 report on balance of international payments, posted on the SAFE website.

Net inflow of direct investment amounted to $34.3 billion and that of securities investment hit 38.7 billion dollars last year.

Driven by the "double surplus", China's foreign exchange reserves reached a new high of $2.4471 trillion by the end of March, up 25.25 percent year on year.