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China posts surplus in Q1 balance of payments

2014-04-28 15:36:57Source:XinhuaAuthor:

China reported both current and capital account surpluses from January to March, marking the sixth consecutive quarterly "twin surplus," official data showed on Friday.

The State Administration of Foreign Exchange said China had a surplus of 7.2 billion US dollars in the current account in the first quarter, down sharply from the 47.6-billion surplus seen in the same period in 2013.

The country's surplus in the capital account expanded to 118.3 billion US dollars in the first quarter from 90.1 billion in the first three months of 2013.

Net foreign direct investment stood at 51.2 billion US dollars in the period, 19.3 billion more than the same period last year.

China's foreign exchange reserves increased by 125.8 billion US dollars in the first quarter, 31.3 billion less than in 2013.