Beijing: China’s current account surplus reached 1.713 trillion yuan (approximately US$240 billion) in the first three quarters of 2024, according to data released by the State Administration of Foreign Exchange.

According to Emirates News Agency, an official from the administration stated that the current account surplus to gross domestic product (GDP) ratio stood at 1.8 percent during this period, which remains within a reasonable and balanced range. Additionally, cross-border capital flows were reported to be generally stable.

The surplus for the third quarter alone was recorded at 1.0441 trillion yuan. From January to September, China’s goods trade surplus increased by 17 percent year-on-year, reaching US$518.2 billion, while the services trade deficit amounted to US$181.4 billion.

Regarding foreign direct investment, the official highlighted that two-way direct investment remained steady. China’s outbound equity direct investment experienced a net outflow of US$98.7 billion, with various enterprises e
xpanding overseas in an organized manner. Inbound equity direct investment included US$60 billion in new capital inflows.

China’s balance of payments is primarily categorized into the current account and the capital and financial account. The current account is closely associated with transactions in the real economy and serves as a standard in international economic analysis. Notably, China has consistently maintained a current account surplus for many consecutive years. Since 2011, the ratio of China’s current account surplus to its GDP has remained below 3 percent.