Caixin
May 05, 2018 01:45 AM
ECONOMY

China Sees First Quarterly Current Account Deficit in Nearly 17 Years

China has run a current account surplus on an annual basis for the past 25 years. Photo: VCG
China has run a current account surplus on an annual basis for the past 25 years. Photo: VCG

China posted its first quarterly current account deficit in nearly 17 years as top officials engage in trade talks with the United States, which is pressing the world’s top exporter to reduce its huge trade surplus.

China saw a current account deficit of $28.2 billion in the first quarter this year, the first quarterly deficit since the second quarter of 2001, data released Friday by the State Administration of Foreign Exchange (SAFE) showed.

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