China Posts $264B Current Account Surplus in 2023, Driven by Record Trade Surplus
- China had a current account surplus of $264.2 billion in 2023, equal to 1.5% of GDP
- Trade surplus in goods was $608 billion in 2023, second highest level in history
- Foreign trade has expanded thanks to economic recovery
- Tourism and transportation sectors had major deficits
- Foreign investment and allocation to RMB assets increased in 2023
