Go Finance Reporting in BEIJING - China's balance of payments recorded a surplus in the first quarter of 2011. Nevertheless, the amount of surplus is down 18 percent from the same period last year.
China's trade balance, which could affect world trade, reaching USD29, 8 billion in the first three months of this year. This was revealed by the State Administration for Foreign Exchange (SAFE), China said in a statement, as quoted by AFP on Tuesday (05/24/2011).
This figure is markedly lower when compared to the fourth quarter of last year which amounted to USD102, 1 billion. While direct investment into the country's second largest economy in the world reached USD42, 6 billion in the first quarter compared to the previous $ 39, 1 billion.
In 2010, China's current account surplus jumped 17 percent to USD305, 4 billion, where the demand from the United States (U.S.) and Europe toward China, rebounded after the global financial crisis.
While the increasing demand for Chinese goods to encourage growth. This means China's central bank, must work harder to control the value of the yuan and to stem the flood of liquidity, which has fueled inflation (GoFinance)
No comments:
Post a Comment