China's current account surplus rises to $69.6bn

China's current account surplus rose sharply to USD 69.6 billion in the second quarter of the year, the State Administration of Foreign Exchange (SAFE) said today.

This means the surplus under the country's current account, a measure of its foreign trade, more than doubled between April and June from the first quarter's USD 28.8 billion, according to preliminary statistics released by the SAFE.

As for the capital and financial account, China posted a surplus of USD 67 billion in the second quarter, narrowing from USD 86.1 billion in the first three months of this year, it said.

The surpluses under the current as well as capital and financial accounts raised the country's international reserve assets by USD 136.5 billion in the second quarter, it said.

The foreign exchange reserves increased USD 136.9 billion during the April-June period, excluding effects of changes in the exchange rate and asset price, Xinhua agency reported.