BEIJING — According to official data on Friday, China’s current account surplus in the first half of this year was $94.1 billion.
The current account surplus relative to gross domestic product was 1.1 percent from January to June and thus remained within a reasonable range, said Wang Chunying, deputy head of the State Administration of Foreign Exchange.
Of this, the surplus in merchandise trade during this period amounted to $288.4 billion, the second highest level ever, Wang said.
Wang attributed the growth in merchandise trade to the country’s stable economic performance, the development of new high-quality productive forces and the recovery of foreign demand.
In the services sector, the country recorded a deficit of 122.9 billion dollars during this period. In particular, the deficit in the tourism sector increased by 37 percent to 103.2 billion dollars compared to the previous year.
According to Wang, the sector’s revenue and expenditure increased by 43 percent and 37 percent, respectively, due to an increase in both entry and exit numbers.
Despite the complex and volatile external environment, Wang said China will continue to maintain equilibrium in its balance of payments if it continues its high-quality development, deepens reforms on all fronts and maintains steady economic recovery.