China's current account surplus amounted to 264.2 billion U.S. dollars at the end of 2023, according to data released on Sunday by the State Administration of Foreign Exchange Control /SACC/ of the People's Republic of China.

The ratio of current account surplus to GDP for the period amounted to 1.5 percent, being within a rational and balanced range, the department said.

The trade surplus in goods last year reached 608 billion dollars, the second highest in history, GUWC data showed.

Thanks to the economic recovery, the country's foreign trade has expanded every quarter, maintaining a relatively large current account surplus, said Wang Chunying, an official spokeswoman for the GUVC.

According to the GUWC, the tourism and transportation sectors again recorded large deficits. The deficit in the tourism sector amounted to $180.6 billion.

As for the capital market, the observed overall net inflow of foreign investment into China and the increase in investment from abroad in the domestic securities market indicate that foreign investors are determined to do business in China and place assets in RMB.

Looking ahead to 2024, Wang Chunying noted that with the improvement of the domestic and external environment, China has the foundation and conditions to maintain a basic balance of payments equilibrium.