The State Administration of Foreign Exchange posted China's international balance of payments sheet for the first half of 2008 on October 29. According to statistics, China's current account, capital and financial account had a balance of payments surplus in the first half of the year, and the international reserves growing rapidly.
In the first half of 2008, China's current account surplus hit US $191.7 billion, up 18 percent than the same period of last year. According to the statistical coverage of the balance of payments, the surpluses in goods, income, and current transfers reached US $132.5 billion, US $38.3 billion, and US $24.2 billion respectively, whereas the deficit in services amounted to US $3.3 billion. Meanwhile, the capital and financial account surplus in the first half of the year was US $71.9 billion, down 20 percent. The net inflows of direct investments and portfolio investments amounted to US $40.8 billion and US $19.8 billion respectively, while net inflows of other investments was US $9.7 billion.
China's international reserves continued to grow. By the end of June 2008, the foreign exchange reserves increased US $280.6 billion compared with the end of last year to a total of US $1,808.8 billion.
By People's Daily Online
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