Cap­i­tal ac­count deficit in­creased last quar­ter

China Daily (Canada) - - FRONT PAGE -

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 for three months end­ing in De­cem­ber, com­pared with the third quar­ter’s $9 bil­lion, ac­cord­ing to pre­lim­i­nary statis­tics re­leased by the State Ad­min­is­tra­tion of For­eign Ex­change (SAFE).

China posted a 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.

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

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