ecns [expanded by feedex.net]: China's capital account deficit widens in Q3

ecns [expanded by feedex.net]

ecns

China's capital account deficit widens in Q3
http://www.ecns.cn/business/2014/10-31/140784.shtml
Oct 31st 2014, 00:09

2014-10-31 08:09 Xinhua Web Editor: Qin Dexing


China's capital and financial account deficits widened in the third quarter, as the country became a net capital exporter, according the State Administration of Foreign Exchange (SAFE) on Thursday.


The capital account deficit expanded to 502 billion yuan (81.6 billion U.S. dollars), compared with 16.2 billion U.S. dollars in the April-June period. There was surplus of 94 billion U.S. dollars in the first quarter.


The capital account deficit comes as China invests more aggressively overseas using the huge current account surplus accumulated through foreign trade. Q3's current account surplus stood at 81.5 billion U.S. dollars.


For the first nine months, China's total capital and financial account was 14.1 billion U.S. dollars, in contrast with a current account surplus of 162 billion U.S. dollars.





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