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China's current account surplus rises in Q2

2011-08-16 14:54

BEIJING - China's current account surplus widened sharply to $69.6 billion in the second quarter of the year, the State Administration of Foreign Exchange (SAFE) said on Tuesday.

This means the surplus under the country's current account, a measure of its foreign trade, more than doubled between April and June from the first quarter's $28.8 billion, according to preliminary statistics released by the SAFE.

For the capital and financial account, China posted a surplus of $67 billion in the second quarter, narrowing from $86.1 billion in the first three months of this year, the SAFE said.

The surpluses under the current as well as capital and financial accounts raised the country's international reserve assets by $136.5 billion in the second quarter, it said.

The foreign exchange reserves increased $136.9 billion during the April-June period, excluding effects of changes in the exchange rate and asset prices.

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