China's FX Regulator Sees Balance of Payments Staying Broadly Balanced

On July 17, Li Bin, deputy head of China's State Administration of Foreign Exchange, said at a State Council Information Office briefing that China's balance of payments is expected to remain broadly balanced, according to 36Kr. He said China will continue to expand domestic demand, boost consumption, increase effective investment, and promote balanced growth in imports and exports. Li added that China will support keeping the current account surplus at a reasonable and balanced level over the medium to long term, while steadily expanding institutional opening-up and investment cooperation, which he said will help China's overseas asset stock keep rising.