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China capital account deficit widens in Q4

(Xinhua)    18:59, February 03, 2015

BEIJING, Feb. 3-- China's capital account deficit widened sharply in the last quarter of 2014 as domestic companies expanded investment overseas.

The capital and financial account deficit was 91.2 billion U.S. dollars for three months ending in December, compared with the third quarter's 9 billion dollars, according to preliminary statistics released by the State Administration of Foreign Exchange (SAFE) on Tuesday.

China posted deficit on its capital and financial account for three consecutive quarters due to rapid increases in overseas investment and speculation of further depreciation of the yuan, the country's currency, analysts said.

Wen Bin, chief researcher at China Minsheng Bank, said capital and financial account deficit may become a "new normal" as the country faces pressure from capital outflows amid expectation of a weaker yuan.

China reported a current account surplus of 61.1 billion U.S. dollars in the fourth quarter last year, narrowing from 72.2 billion dollars posted in the third quarter, the SAFE said.

The country saw a 213.8 billion dollars current account surplus for the full year and a deficit of 96 billion dollars on the capital and financial account, it said.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Ma Xiaochun,Bianji)

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