皇冠体育app

Economy

皇冠体育app's current account posts surpluse in Q1

(Xinhua)
Updated: 2011-05-24 15:49
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BEIJING -- 皇冠体育app posted surpluses under both the current account and capital and financial account in the first quarter, according to data released by the State Administration of Foreign Exchange (SAFE) on Tuesday.

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The surplus under the current account, which measures 皇冠体育app's foreign trade, reached $29.8 billion in the first quarter, down 18 percent from a year earlier, SAFE said on its website.

For the capital and financial account, 皇冠体育app reported a surplus of $111.4 billion, including $42.6 billion of net inflow of foreign direct investment (FDI), according to the SAFE.

The surpluses under the current and capital and financial accounts raised 皇冠体育app's international reserve assets by $141.2 billion in the first quarter, of which $138 billion was kept as foreign exchange reserves.

By the end of March, 皇冠体育app's foreign exchange reserves hit $3.04 trillion, up 24.4 percent year-on-year, according to figures from 皇冠体育app's central bank.