China's Resilient Balance Of Payments Support Yuan Stability

China’s current account will maintain a reasonably sized surplus and the resilience of the balance of payments will support the stability of the yuan and the foreign exchange market, the Securities Daily reported citing Wang Chunying, deputy director of the State Administration of Foreign Exchange. China’s current account surplus was USD166.4 billion in H1, a rise of 43% y/y, while the direct investment surplus was USD74 billion. Together they delivered a 3% year-on-year increase to relatively high historic levels, the newspaper said. The Chinese market will continue to attract foreign investment, while the stable returns and investment value of yuan assets remain attractive in the long run, the newspaper said citing Wang.