China reports current account surplus in Q1

BEIJING - China maintained a balance in its international payments in the first quarter of this year, with a reasonable level of current-account surplus, the State Administration of Foreign Exchange said Wednesday.

The country reported a current account surplus of $89.5 billion in the first three months, accounting for 2.1 percent of its gross domestic product during the period, data from the administration showed.

During the period, trade in goods reported a surplus of $145 billion, hitting an all-time high. Goods exports and imports respectively rose 16 percent and 15 percent, year-on-year.

The trade in services saw a lower deficit of $18.2 billion, down 30 percent, year-on-year.

The administration also noted that the country saw a relatively high foreign direct investment inflow in the period, while outbound direct investment remained stable.