Current location:World Walkthrough news portal > sport
China's current account surplus remains in reasonable range
World Walkthrough news portal2024-04-30 11:34:01【sport】1People have gathered around
IntroductionVideo PlayerCloseBEIJING, Sept. 28 (Xinhua) -- China's current account surplus remained in a reasona
Video PlayerClose
BEIJING, Sept. 28 (Xinhua) -- China's current account surplus remained in a reasonable range in the first half of this year, the country's foreign exchange regulator said Thursday.
The current account surplus stood at 69.3 billion U.S. dollars in the first six months, accounting for 1.2 percent of the nationalGDP, according to the State Administration of Foreign Exchange (SAFE).
The non-reserve financial account recorded a surplus of 67.9 billion dollars, SAFE data showed.
A surplus in both accounts showed improvement in the economic structure, stable cross-border capital flow and controllable risks in the balance of payments, SAFE said in a report.
China will see basic equilibrium in the balance of payments in the second half of this year, a SAFE statement quoted an unnamed spokesperson as saying.
Positive factors will include a recovering global economy, stabilizing commodities prices, a steady domestic economy and greater opening-up of the financial market, the SAFE spokesperson said.
Meanwhile, the SAFE report said it needs to keep a close eye on the influence of the U.S. Federal Reserve's plan to start unwinding its balance sheet from October, a further step to end its loose monetary policy.
As the world's biggest emerging market economy, China will inevitably face certain pressure on capital flow, according to the report.
However, it said the Fed's pace of normalizing its monetary policy has been relatively steady, noting that economic fundamentals remain the key to guard against risks.
China's economic development has been stable with a positive outlook, a current account surplus, controllable external debt and around 3 trillion dollars of forex reserves, all of which will cushion the economy against changes in the external environment, according to SAFE.
The current account surplus for the second quarter of this year stood at 50.9 billion dollars, while the quarterly non-reserve financial account surplus was 31.1 billion dollars.
The country's international investment position is also sound, with 1.75 trillion dollars of net external assets at the end of June, according to SAFE.
Address of this article:http://pakistan.whetstonetavern.com/content-03c199985.html
Very good!(79647)
Related articles
- Finnish carrier suspends Estonia flights after GPS interference prevents 2 landings
- Tale of the state pension underpaid for 20 YEARS: This is Money podcast
- 'This HAS to be the world's best business
- Apple users are still discovering hidden new features inside iPhone's iOS17
- Twins bring Carlos Correa back from IL after 16
- Mercedes upgrades its electric EQS to give the EV a huge 511 mile
- Astronaut Thomas Stafford, commander of Apollo 10, dies aged 93: Air Force three
- Is taking a Nile river cruise in Egypt worth it? I filmed my five
- Hamas official says no agreement with Israel if war continues in Gaza
- More than 214k vehicles seized by police forces last year
Popular articles
- Syrian, Russian forces destroy 'terrorist' strongholds in N. Syria
- Revealed: The 20 best walks in Britain (and the maps that show you the perfect route)
- Will the Bank of England cut interest rates soon? This is Money podcast
- How Impax Environmental Markets invests for profit and to improve the planet: INVESTING SHOW
Recommended
Stunning Michigan castle near Detroit hits market for $2.3M
Come fry with me! The UK's cheapest and priciest airports for a full English breakfast revealed
World's biggest bridges revealed after collapse of colossal Baltimore landmark
Revealed: The 20 best walks in Britain (and the maps that show you the perfect route)
China to hold first space cooperation forum with LatAm, Caribbean countries
Exquisite suites and unrivalled experiences
Will the high
United Airlines flight is forced to DIVERT after a dog POOPED in first class aisle
Links
- Ryan Pepiot pitches 6 strong innings as Rays beat Angels 2
- Alleged homicide suspect fatally shot by police in San Francisco Bay Area
- Seattle Storm become 2nd WNBA team to open their own practice facility
- Arizona Republican drops reelection effort after accusation he forged signatures
- Group condemns 'humiliating searches' by security at Barcelona stadium
- Interfaith conference seeks to raise awareness about Uyghur genocide — Radio Free Asia
- Irina Shayk the sizzling supermodel rocks saucy triple
- Tibetan political leader ‘optimistic’ about passage of US bill on Tibet — Radio Free Asia
- Tennessee State hires coach in big step to being the first HBCU to add ice hockey
- Danny Cipriani holidays with 90210 star AnnaLynne McCord at spiritual retreat in Egypt