China sustained a fundamental equilibrium in its international payments last year, with the State Administration of Foreign Exchange (SAFE) reporting a current account surplus of $264.2B on Sunday.
As per China Central Television, SAFE revealed that the current account surplus to gross domestic product ratio stood at 1.5 percent in the previous year.
The surplus from trade in goods reached $608B in 2023, marking the second-highest level in history, as indicated by administration data.
Furthermore, based on the administration’s initial assessments, the net inflow of overseas investment in the domestic securities market hit a two-year peak in the fourth quarter of 2023. From September to December, foreign holdings of domestic bonds experienced a net increase exceeding $60B, according to SAFE data.
In 2023, China maintained a basic equilibrium in its balance of international payments, keeping the current account surplus within a reasonable and balanced range.
Cross-border capital flow in China stabilised and displayed an improving trend, while foreign investment in the country showed an overall net inflow, according to WAM.
