China's current account surplus hits 241 billion USD in first three quarters

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China's current account surplus hits 241 billion USD in first three quarters

2024-12-28 10:48 Last Updated At：18:57

China's current account surplus reached 241.3 billion U.S. dollars in the first three quarters of 2024, according to data released by the State Administration of Foreign Exchange on Friday.

The current account surplus to gross domestic product (GDP) ratio stood at 1.8 percent during this period, remaining within a reasonable and balanced range, while cross-border capital flows were generally stable, said the administration.

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China's current account surplus hits 241 billion USD in first three quarters

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China's current account surplus hits 241 billion USD in first three quarters

Among these, the export and import of goods with balance of payments significance grew by 6 percent and 3 percent, respectively, compared to the previous year, while the trade surplus in goods reached a historic high during the same period.

In the first three quarters, China's foreign investment continued to grow steadily, with a net increase of 314.9 billion U.S. dollars in financial account assets. All forms of investment in China showed a net inflow, including a net inflow of 93.1 billion U.S. dollars in securities investment, marking the fourth consecutive quarter of positive inflows. Additionally, foreign investors' allocation of RMB assets saw an increase.

The country's balance of payments is primarily divided into two main categories -- the current account and the capital and financial account. The current account is closely linked to transactions in the real economy, and its balance is a commonly used standard in international economic analysis. China has maintained a current account surplus for many consecutive years. Since 2011, the ratio of China's current account surplus to its GDP has consistently remained below 3 percent.

China-Chile trade hits record high in first four months

2025-05-14 16:51 Last Updated At：17:07

Trade between China and Chile reached new heights in the first four months of 2025, marking a significant milestone in 55 years of bilateral cooperation since the establishment of diplomatic relations in 1970.

China's total imports and exports with Chile reached 163.19 billion yuan (22.65 billion U.S. dollars) in the first four months, a 5.4 percent increase year on year, outpacing the growth rate of China's overall foreign trade by 3 percentage points and setting a new record for the same period, said the General Administration of Customs on Wednesday. Chile is the first Latin American country to sign a free trade agreement (FTA) with China, and the first in South America to implement a mutual recognition arrangement for Authorized Economic Operators (AEOs) with Chinese customs. Since the China-Chile FTA came into effect in 2006, bilateral trade has expanded rapidly, from 70.85 billion yuan in 2006 to 437.95 billion yuan in 2024, at an average annual growth rate of 11.2 percent.

Currently, Chile is China's third-largest trading partner in Latin America, while China remains Chile's top trading partner globally.

In recent years, a growing variety of Chilean agricultural products has entered the Chinese market, enriching the "fruit baskets and vegetable trays" of Chinese consumers. Notably, cherries have become a standout example. In the first four months of this year alone, China imported 17.54 billion yuan worth of cherries from Chile, accounting for 16.2% of the total value of China's imports from Chile during that period. Chile has maintained its position as China's largest supplier of imported cherries for over a decade.

Other Chilean specialty products also saw significant growth during the same period. Imports of frozen crab rose by 26.3 percent, sockeye salmon by 180.9 percent, and avocados by 68.1 percent.