China's current account surplus nears $200 billion in 2016Staff Writer | March 31, 2017
China's current account surplus stood at $196.4 billion last year, the country's foreign exchange regulator said.
Economy in China A deficit of $300 million for the capital account
The current account surplus last year accounted for 1.8 percent of the country's gross domestic product, the regulator said.
The capital and financial account recorded a surplus of $26.3 billion in 2016, with a deficit of $300 million for the capital account and a deficit of 417 billion for the non-reserve financial account, said SAFE.
Reserve assets, most of which are foreign exchange reserves, decreased by $443.7 billion last year.
In the fourth quarter last year, China's current account surplus stood at $11.8 billion, down from $69.3 billion in the third quarter, according to SAFE.
The country will continue to run a current account surplus, as well as a capital and non-reserve financial account deficit in 2017, SAFE said.
The goods-trade surplus will stay at "a certain level," while growth in the service trade deficit is likely to stabilize this year, it said. ■