BEIJING, May 12  -- Current account surplus in 2015 first quarter (Q1) hit 484.4 billion yuan (78.9 billion U.S. dollars), said the State Administration of Foreign Exchange (SAFE) on Tuesday.

Q1 deficit under the capital and financial account was 484.4 billion yuan.

The international reserve assets decreased by 492.5 billion yuan.

From this year on, the balance of payments accounting method will be in accordance with the latest IMF standards, SAFE said in the statement.

In 2014, the surplus under the current account was 1.35 trillion yuan, while the capital and financial account surplus was 232 billion yuan. International reserve assets rose by 720.9 billion yuan in 2014.