China's current account surplus hits 241 billion USD in first three quarters

China's current account surplus reached 241.3 billion U.S. dollars in the first three quarters of 2024, according to data released by the State Administration of Foreign Exchange on Friday.

The current account surplus to gross domestic product (GDP) ratio stood at 1.8 percent during this period, remaining within a reasonable and balanced range, while cross-border capital flows were generally stable, said the administration.

Among these, the export and import of goods with balance of payments significance grew by 6 percent and 3 percent, respectively, compared to the previous year, while the trade surplus in goods reached a historic high during the same period.

In the first three quarters, China's foreign investment continued to grow steadily, with a net increase of 314.9 billion U.S. dollars in financial account assets. All forms of investment in China showed a net inflow, including a net inflow of 93.1 billion U.S. dollars in securities investment, marking the fourth consecutive quarter of positive inflows. Additionally, foreign investors' allocation of RMB assets saw an increase.

The country's balance of payments is primarily divided into two main categories -- the current account and the capital and financial account. The current account is closely linked to transactions in the real economy, and its balance is a commonly used standard in international economic analysis. China has maintained a current account surplus for many consecutive years. Since 2011, the ratio of China's current account surplus to its GDP has consistently remained below 3 percent.

China's current account surplus hits 241 billion USD in first three quarters

China's current account surplus hits 241 billion USD in first three quarters

China's current account surplus hits 241 billion USD in first three quarters

China's current account surplus hits 241 billion USD in first three quarters

China's current account surplus hits 241 billion USD in first three quarters

China's current account surplus hits 241 billion USD in first three quarters

South Korean President Lee Jae Myung said on Wednesday that Seoul firmly adheres to the one-China principle, in comments made ahead of his upcoming state visit to China.

The remarks were made in an interview with China Media Group (CMG). The visit is scheduled for Jan 4–7.

"The consensus reached between governments of the Republic of Korea and China when diplomatic relations were established continues to be the fundamental principle governing our relations, and its effectiveness remains steadfast. I want to clearly state that the ROK has always adhered to the one-China principle. Maintaining peace and stability in regional matters, including in Northeast Asia and concerning the Taiwan issue, holds significant importance to us," said Lee.

"The foundational relationship between the ROK and China was established on a very principled and fundamental basis from the beginning. It is clear that the ROK government has always adhered to this position and has never wavered from it. I believe that the sound development of ROK-China relations depends on both sides fully respecting each other's core interests and being mutually tolerant of each other's positions. In this context, we will, as always, uphold the one-China principle as the Taiwan issue is China's most fundamental concern," he said.

ROK president reiterates firm adherence to one-China principle