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1999 Balance of Payments by China Come Off Well
Statements in regards to China's 1999 balance of payments released by the State Administration of Foreign Exchanges indicate that the country's current and capital finance accounts showed a surplus in 1999, striking a favorable balance of payments for the country last year.
Current account of balance of payments showed a surplus of $15.667 billion in 1999. According to statistics from a yearly balance of payments made in 1999, exports took $194.716 dollars, imports, $158.510 billion, with a surplus of $ 36.206 billion. Service accounts income stood at $ 23.779 billion, with an expenditure of $31.289 billion, giving a deficit of $7.509 billion. Constant income accounts wrested an earning of $10.571 billion, with expenditure at $ 28.544 billion, a $ 17.973 billion deficit seen, along with a current transfer surplus of $ 4.943 billion.
Capital and finance accounts in 1999 achieved a $ 7.642 billion surplus after reversing the preceding year's deficit. A new growth of assets was further seen in the country's international reserve in 1999: an increase of $ 8.505 billion over 1998, with a foreign exchange reserve amounting to $154.675 billion at the end of 1999, up $ 9.716 billion over 1998.
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