China Defends Export-Fueled Surplus

China defended its large current-account surplus, saying the funds generated by its export strength are recycled into overseas investments that support industries and financial markets abroad.

Li Bin, deputy head of the State Administration of Foreign Exchange, said Thursday that China’s outward investment averaged more than $500 billion a year during the five years through 2025. The country’s overseas assets approached $12 trillion at the end of last year, up 33% from 2020.