China's Trade Surplus Soars to USD29 Billion in October
Yicai Global
/SOURCE : Yicai
China's Trade Surplus Soars to USD29 Billion in October

(Yicai Global) Nov. 29 – China's trade surplus in international trade of goods and services measured by international balance of payment recorded increase in October compared with the previous month, according to the Chinese State Administration of Foreign Exchange (SAFE).

The surplus in the international trade of goods and services measured by international balance of payment reached USD29 billion in Oct, up from USD20.7 billion in September.

The surplus of the trade in goods amounted to USD49.9 billion, while the trade deficit in services reached USD20.9 billion. The data announced by SAFE corresponds to People's Bank of China's (PBOC) previously announced position for forex purchase.

The slowdown in the decline of position for forex purchase is related to increasing trade surplus, one industry expert told Yicai Global.

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