56 percent increase in the Chinese current account surplus during the first three quarters of this year

BEIJING - (Xinhua) -- Official data released last Friday showed that China's current account surplus hit 310.4 billion U.S. dollars in the three quarters of 2022, up 56 percent year-on-year.

The National Foreign Exchange Authority stated that the ratio of the current account surplus against the gross domestic product in the same period was 2.4 percent, which remains within a reasonable and balanced range.

The data showed that the surplus in goods trade increased by 37 percent year on year, to a record high of 521.6 billion US dollars, while the deficit in services trade narrowed by 23 percent.

Direct investment witnessed a net inflow of $46.9 billion during this period, according to the aforementioned authority.

Wang Chunying, vice president of the aforementioned authority, said that the Chinese economy maintains its strength, huge performance and sound long-term fundamentals, while its recovery achieves more stability, which helps to stabilize the balance of payments.