BEIJING, Oct. 20 -- China will maintain a reasonable degree of current account surplus this year, showing the resilience of the country's foreign trade, an official said on Friday.
Expectations for China's foreign exchange market remained largely stable in the third quarter of this year, with a steady and solid performance from the yuan exchange rate compared with major currencies globally, said Wang Chunying, deputy head and spokesperson of the State Administration of Foreign Exchange, at a press conference.
Citing data from the China Foreign Exchange Trade System (CFETS), Wang said that as of Thursday, the CFETS yuan exchange rate composite index, which measures the yuan's strength relative to a basket of currencies, gained 3 percent from the end of the second quarter.
During the third quarter, the net inflow of cross-border capital in the country's trade in goods remained roughly flat with the level recorded in the previous quarter, sustaining a high level lasting for two years, according to Wang.
Preliminary data showed China's current account surplus stood at around 55 billion U.S. dollars from July to August, Wang said.
China has a complete industrial chain and sufficient skilled manpower, which will continue to boost export, Wang said.
Its upgrades and transformation of the manufacturing industry, as well as dedication to advancing high-quality development, will optimize the structure of export and nurture new growth momentum for trade, Wang added.