China maintained favourable balance of payments in current
accounts and capital accounts in 2005, official statistics
showed.
The surplus under current accounts totaled US$160.8 billion,
jumping 134 percent year on year and accounting for 72 percent of
China's total surplus in its balance of payments, according to the
balance of payments statement released by the State Administration
of Foreign Exchange (SAFE).
The surplus under capital and financial accounts amounted to 63
billion dollars, down 43 percent from 2004.
Driven by the "double surplus", China's foreign exchange
reserves reached US$818.9 billion by the end of 2005, up 34.3
percent year on year.
The SAFE attributed the surge in current account surplus to the
rapid growth of China's cargo trade surplus, which rocketed 128
percent to 134.2 billion dollars in 2005.
(Xinhua News Agency May 4, 2006)
