China's current account surplus stood at 94.1 billion U.S. dollars in the first half of the year, official data released by the State Administration of Foreign Exchange (SAFE) showed Friday.
The current account surplus to gross domestic product ratio was 1.1 percent from January to June, remaining within a reasonable range, according to Wang Chunying, deputy head of the State Administration of Foreign Exchange.
Of the total, the surplus under trade in goods amounted to 288.4 billion dollars during the period, the second-highest level of all time and a year-on-year increase of 1 percent, Wang said.
Thereinto, the exports of goods rose by 3 percent year on year to 1.5796 trillion U.S. dollars, while the imports reached 1.2912 trillion, up 4 percent year on year.
Wang attributed the growth in goods trade to the country's steady economic performance, the development of new quality productive forces, and the recovery of external demand.
In the second quarter of 2024, the country's current account surplus came in at 54.9 billion U.S. dollars, and the deficit of the capital and financial account, with net errors and omissions in the quarter included, also stood at 54.9 billion U.S. dollars.
In terms of trade in services, the country saw a deficit of 122.9 billion dollars during the period. Particularly, the tourism sector's deficit rose by 37 percent year on year to 103.2 billion dollars.
The sector's incomes and expenditures increased by 43 percent and 37 percent, respectively, driven by a surge in both inbound and outbound travels, according to Wang.
Two-way direct investment also showed a steady and orderly trend. In the first six months of this year, the net outflow of China's equity direct investment was 65.3 billion U.S. dollars, while that of equity direct investment in China saw an additional capital inflow of 40.8 billion U.S. dollars.
Despite complex and volatile external environment, Wang said that as China has been continuing to advance high-quality development, deepen reforms at all fronts and sustain a steady economic recovery, it will maintain an equilibrium in its balance of payments.
China reports current account surplus in H1
China reports current account surplus in H1
China reports current account surplus in H1
The second meeting of High-Level Consultation Mechanism on People-to-People and Cultural Exchanges between China and Japan, was held in Beijing on Wednesday, with 10 important agreements reached there.
Wang Yi, a member of the Political Bureau of the Communist Party of China Central Committee and Chinese foreign minister, and Takeshi Iwaya, Japanese minister for foreign affairs, jointly attended the meeting.
The 10 agreement are as follows.
First, the two sides will promote youth exchange visits, and encourage and support study trips between the two countries.
Second, the two sides will deepen cooperation in the field of education, strengthen the exchange of overseas students, and support primary and secondary schools in the two countries to establish sister schools and institutions of higher education to carry out inter-school cooperation.
Third, the two sides will support tourism cooperation and introduce more facilitation measures to promote mutual visits between tourists from the two countries.
Fourth, the two sides will build more bridges for exchanges between sister cities and make good use of mechanisms and platforms such as the China-Japan Governor Forum, the China-Japan-ROK Cultural Exchange Year and the Culture Cities of East Asia to expand friendly exchanges at the local and non-governmental levels.
Fifth, the two sides will strengthen sports exchanges and cooperation, and support each other in hosting major sports events such as the 2025 Harbin Asian Winter Games and the Aichi-Nagoya Asian Games in 2026.
Sixth, the two sides will support continued cooperation in film, television, music, publishing, animation, games and other cultural and entertainment industries, exchange visits of high-level art groups, and support the translation and publication of classic works between the two countries.
Seventh, the two sides will strengthen exchanges and cooperation between media and think tanks, play a positive role in bilateral relations, and strive to improve public opinion and the environment for public opinion. The two sides will support exchanges and cooperation in new media and encourage exchanges between positive vibes of the two countries.
Eighth, the two sides will conduct exchanges between women's groups and share experience on promoting the common development of men and women. China invites Japan to attend the Global Leaders' Meeting on Gender Equality and Women's Empowerment to commemorate the 30th anniversary of the Fourth World Conference on Women.
Ninth, the two sides will build the World Expo 2025 in Osaka, Kansai, into a platform for exchanges and friendship between the two peoples. China supports Japan in hosting the expo, while Japan welcomes China's participation and will provide assistance in the preparation and operation of the China Pavilion.
Tenth, the two sides will hold the third meeting of China-Japan high-level consultation mechanism on people-to-people and cultural exchanges in Japan in due course.
Noting that next year marks the 80th anniversary of the victory in the Chinese People's War of Resistance Against Japanese Aggression and the World Anti-Fascist War, Wang said that the purpose of remembering this history is to draw lessons from it and cherish the hard-won peace.
China hopes and believes that Japan can once again demonstrate its determination for peaceful development and work with China to promote the sound and stable development of China-Japan relations in the spirit of facing history squarely and looking to the future, said Wang.
Iwaya said Japan is willing to work with China to improve the quality of people-to-people exchange projects, deepen exchanges between sister cities and take more measures to facilitate personnel exchanges.
China, Japan reach 10 agreements on people-to-people, cultural exchanges
