Economic review

China's current account surplus remains in reasonable range in 2017

2018-02-08 21:51:00 (Beijing Time)         Xinhua


China's current account surplus stayed at a reasonable range in 2017 as the country reversed a net capital outflow to a balanced level, the country's top exchange rate regulator said Thursday.

The current account surplus stood at 172 billion U.S. dollars in 2017. The capital and financial account recorded a deficit of 9.1 billion dollars, according to the State Administration of Foreign Exchange (SAFE).

The non-reserve financial account posted a surplus of 82.5 billion dollars, according to a SAFE report.

The data pointed to balanced cross-border capital flow and stable international payment sheet of the world's second largest economy, an unnamed SAFE official said.

With China's economy firming up, the foundation for a balanced international payment sheet will be more solid, the official said.

China's foreign exchange reserves rose for the 12th straight month to reach 3.2 trillion dollars at the end of January.

China's economy grew 6.9 percent in 2017, topping both the official target and 2016 growth.