China's current account surplus remains reasonable in 2017

Source: Xinhua| 2018-03-30 00:09:38|Editor: yan
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BEIJING, March 29 (Xinhua) -- China's current account surplus remained within a reasonable range last year, the country's foreign exchange regulator said Thursday.

The current account surplus stood at 164.9 billion U.S. dollars in 2017, accounting for 1.3 percent of GDP, according to the State Administration of Foreign Exchange (SAFE).

The non-reserve financial account recorded a surplus of 148.6 billion dollars in 2017, compared with a deficit of 416.1 billion dollars in the previous year.

Reserve assets rose 91.5 billion dollars last year.

A basic equilibrium in the balance of payments will continue due to the global economic recovery, sound economic growth and further opening up of China's market, according to SAFE.

The country will continue to run a current account surplus and keep it within a reasonable range, the regulator said.

Cross-border capital movement would remain stable on the whole, it said.

As of the end of 2017, China's external assets reached 6.9 trillion dollars and its external debts stood at 5.1 trillion dollars, up 6 percent and 12 percent, respectively, from the end of 2016.

The country's reserve assets remained the world's largest, with steady outbound and inbound investment.