BEIJING — China's current account surplus stood at a record $310.4 billion in the first three quarters of 2022, up 56 percent year-on-year, official data showed on Nov 4.

The ratio of the current account surplus against the gross domestic product of the same period was 2.4 percent, which is within a reasonable and balanced range, said the State Administration of Foreign Exchange.

Of the total, the surplus under trade in goods increased 37 percent year-on-year to hit a record $521.6 billion, while the deficit under trade in services narrowed by 23 percent, the data showed.

Direct investment logged a net inflow of $46.9 billion, according to the administration.

The Chinese economy retains its robustness, huge potential and sound long-term fundamentals, and its recovery is gaining ground, which will help underpin the country's balance of payments, said Wang Chunying, deputy head of the administration.