China reports Q1surpluses in accounts
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E-mail Xinhua, April 26, 2012
China's foreign exchange regulator said on Thursday that the country saw surpluses both under the current account and financial account in the first quarter of this year.
The surplus under the current account, which measures China's foreign trade of goods and services, stood at 24.7 billion U.S. dollars in the first quarter, according to data released by the State Administration of Foreign Exchange (SAFE).
The surplus under the financial account, which measures net capital inflow, came in at 49.9 billion U.S. dollars, the SAFE said.
Excluding effects of changes in the exchange rates and asset prices, the country's international reserve assets added 74.6 billion U.S. dollars in the first quarter.
The foreign exchange reserves increased 74.8 billion U.S. dollars in the first three months, with reserves in the International Monetary Fund (IMF) decreasing 400 million U.S. dollars while special drawing right (SDR)added 200 million U.S. dollars, according to the statement.
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