BEIJING: China’s capital and financial account deficit narrowed in the first quarter of 2016, adding to signals of easing capital outflow pressure, official data showed yesterday.
The deficit under the capital and financial account stood at US$48.1 billion for the three months ending in March, according to preliminary statistics released by the State Administration of Foreign Exchange yesterday.
That was down from a final count of US$50.6 billion in the fourth quarter of 2015.
China’s reserve assets, most of which are foreign exchange reserves, dropped US$123.3 billion in the first quarter, compared with a decrease of US$115.3 billion in the fourth quarter of 2015, according to SAFE.
The country reported a current account surplus of US$48.1 billion in the first quarter, down from US$91.9 billion in the previous quarter.
