BEIJING — China's current account surplus reached $166.4 billion in the first half of the year, up 43 percent from the same period last year, official data showed on Sept 29.

The ratio of the current account surplus against the same period's gross domestic product was 1.9 percent, which is within a reasonable and balanced range, said Wang Chunying, deputy head of the State Administration of Foreign Exchange.

Of the total, the surplus under trade in goods increased 36 percent year-on-year, while the deficit under trade in services narrowed 30 percent, she said.

In the second quarter, the current account recorded a surplus of $77.5 billion.

China's balance of payments has a solid internal foundation, and this can provide fundamental support for the stability of China's foreign exchange market and the renminbi exchange rate, Wang said.