China Q2 current account surplus rises to $59.4b

BEIJING - Preliminary figures show that China's current account surplus hit $59.4 billion in the second quarter, up from $48.1 billion in the first quarter, according to data released by the State Administration of Foreign Exchange (SAFE) on Thursday.

The capital and financial account, however, recorded a deficit of $59.4 billion in Q2, an increase on the $48.1 billion deficit in Q1.

In H1, the preliminary current account figures showed a $98.7 billion surplus, with the capital and financial account recording a $59.5 billion deficit.

SAFE attributed the strong current account figures to the large surplus trade in goods, which stood at $125 billion in Q2, as exports picked up. In Q2, China's exports rose by 1.2 percent year on year, customs data showed.

SAFE releases both preliminary and final figures on the balance of international payments each quarter.