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China to maintain current account surplus in near term: SAFE

[June 30, 2014]  BEIJING (Reuters) - China will maintain a current account surplus in the near-term, while keeping it at low level, China's foreign exchange regulator said on Monday.

Du Peng, chief of the current account department of the State Administration of Foreign Exchange(SAFE), told a news briefing that a deficit in service trade will be large in future, especially in the tourism area.

China posted a capital and financial account surplus of $94 billion in the first quarter of 2014 and a current account surplus of $7 billion.

(Reporting By Coco Li and Koh Gui Qing; Editing by Kim Coghill)

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