China sees current account surplus in 2019 as strong investment magnet

Source: Xinhua| 2020-02-14 18:18:40|Editor: huaxia

BEIJING, Feb. 14 (Xinhua) -- China reported a current account surplus in 2019 amid strong external demand for goods, a narrowing deficit in services trade and a huge inflow of foreign investment.

The surplus in the current account stood at 177.5 billion U.S. dollars by the end of last year, data from the State Administration of Foreign Exchange (SAFE) showed Friday.

Surplus of goods trade rose to some 462.8 billion dollars while services trade saw the deficit drop to 261.4 billion dollars.

The net inflow of direct investment stayed at a high level of 59.1 billion dollars, while securities investment saw a surplus of nearly 60 billion dollars.

China's international balance of payments maintained a basic equilibrium, with stable cross-border capital flows, noted Wang Chunying, SAFE spokeswoman and chief economist.

Considering China's sound economic fundamentals and huge development potential, its balance of payments will stay generally stable and balanced in the future, Wang said in an online statement.