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China's current account surplus narrows sharply in 2011

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BEIJING, Feb. 10 (Xinhua) -- China's current account surplus narrowed sharply by more than one-third from a year earlier to 201.1 billion U.S. dollars last year, the State Administration of Foreign Exchange said Friday.

Preliminary statistics showed the current account surplus in the fourth quarter stood at 59.8 billion U.S. dollars, down 41.49 percent from 102.2 billion U.S. dollars a year earlier, the administration said in a statement.

The fourth-quarter current account surplus widened from 53.4 billion U.S. dollars in the third quarter, it said.

However, in the fourth quarter China registered a deficit of 47.4 billion U.S. dollars in the capital and financial account, indicating net capital outflows from the country.

The country ran a surplus of 66.2 billion U.S. dollars in the capital and financial account in the third quarter.

The country's international reserve assets increased by 12.4 billion U.S. dollars in the fourth quarter, much lower than 91.7 billion U.S. dollars during the previous three months.

The foreign exchange reserves increased 11.7 billion U.S. dollars during the October-December period, excluding effects of changes in the exchange rates and asset prices.

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