China swings back to capital account surplus

BEIJING - Data released by China's top foreign exchange regulator on Thursday showed the country swung back to a surplus under the capital and financial account in the first quarter after recording a deficit last year for the first time since 1999.

The surplus under the capital and financial account reached $101.8 billion in the January-March period, compared with $31.8 billion of deficit for Q4 and $117.3 billion of deficit for 2012, according to the State Administration of Foreign Exchange (SAFE).

Meanwhile, China maintained a surplus of $55.2 billion in its current account that reflects the country's foreign trade with partners, compared with $65.8 billion in Q4 and $213.8 billion for 2012.

The SAFE's preliminary data also showed the country increased its international reserve assets by $157 billion in the first three months of 2013.