Beijing, November 05 (QNA) – China’s current account surplus stood at a record $310.4 billion in the first three quarters of 2022, up 56% year-on-year, official data showed.
The ratio of the current account surplus against the gross domestic product of the same period was 2.4%, which is within a reasonable and balanced range, according to data issued by China’s State Administration of Foreign Exchange.
Of the total, the surplus under trade in goods increased 37% year-on-year to hit a record $521.6 billion, while the deficit under trade in services narrowed by 23%, the data showed.
Direct investment logged a net inflow of $46.9 billion, according to the administration.
According to deputy head of the administration Wang Chunying, the Chinese economy retains its robustness, huge potential and sound long-term fundamentals, and its recovery is gaining ground, which will help underpin the country’s balance of payments. (QNA)