Current account deficit up
Print Edition
CHINA’S capital and financial account deficit widened in the third quarter as the country became a net capital exporter, the State Administration of Foreign Exchange said yesterday.
The capital account deficit expanded to 502 billion yuan (US$82 billion), compared with US$16.2 billion in the April-June period.
There was a surplus of US$94 billion in the first quarter.
The deficit comes as China invests more aggressively overseas using the huge current account surplus accumulated through foreign trade. The third quarter’s current account surplus stood at US$81.5 billion.
For the first nine months, China’s total capital and financial account deficit was US$14.1 billion in contrast to a current account surplus of US$162 billion.
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