China's first quarterly balance of payments data current account surplus significantly reduced

Xinhua Beijing, May 14 (Xinhua Jia Jingfeng) China's State administration of foreign exchange 14th released the first quarterly balance of payments data, China's current projects, capital and financial projects to maintain a "double surplus", the current account surplus fell 48% year-on-year, the proportion of GDP has been declining for the third consecutive year.　　It is reported that in the future, China will publish the balance of payments data on a quarterly basis, aimed at improving transparency of foreign economic data. In the first quarter, China's balance of payments current account surplus of 40.9 billion U.S. dollars, a year-on-year decline of 48%.　　The goods trade surplus of 29.4 billion U.S. dollars, the service trade deficit of 18 billion U.S. dollars, the earnings surplus of 21.3 billion U.S. dollars, often transfer surplus of 8.3 billion U.S. dollars. The quarterly capital and finance project surplus was 55 billion dollars. The net inflow of direct investment was 17.5 billion dollars. China's international reserve assets changed 96 billion U.S. dollars, an increase of 46%.　　The Exchange-reserve assets traded 95.9 billion U.S. dollars and SDRs increased 100 million dollars.　　Officials have analyzed four features of the quarterly data, first, foreign-related economic activities tend to be active, as China's rebound rebound, the first quarter of the international balance of payments volume of goods trade growth of 44%, this trend in other foreign economic caliber also reflected, such as in the quarter of the bank on behalf of the exchange, the total amount of initial payments have increased. Second, the current account surplus has declined and the balance of payments situation continues to improve. In the first quarter, the current account surplus of 40.9 billion U.S. dollars, down 48%, the current account surplus as a share of GDP from 8.2% to 3.5%, has been falling for the third consecutive year since 2008.　　Shows that China's economic growth is moving from external demand to internal and external demand balance pull.　　Third, the pressure on net capital inflows increased and the surplus of capital and finance projects increased to $55 billion in the quarter. Four, the reserve assets resumed relatively fast growth. In the quarter, the change of foreign exchange reserve assets was 96 billion U.S. dollars, an increase of 46%, the balance of foreign exchange reserves increased by 47.9 billion U.S. dollars, the gap between the two reflects the overall appreciation of the dollar caused by currency translation gains and losses. Finish)