China reports current account surplus in Q2

China saw a current account surplus in the second quarter, reversing from a deficit seen in the first quarter as the economy recovered amid control of the COVID-19 epidemic.

The current account surplus reached US$110.2 billion in Q2, as compared with a deficit of US$33.7 billion in Q1, data from the State Administration of Foreign Exchange showed.

The capital and financial account recorded a deficit of US$34.5 billion.

Trade in goods posted a surplus of US$161.3 billion, while trade in services saw a deficit of US$29.5 billion.

In the first half of this year, the country saw a current account surplus of US$76.5 billion, accounting for 1.2 percent of the country's GDP, data from the administration showed.

The administration expected a mild current account surplus for the whole year, with a stable goods trade surplus and narrower service trade deficit.