I Dont: China and Account Surplus

i dont: In addition, our cross-border capital flows are within a normal range, according to Global Times China. Therefore, I dont believe there is any ground for persistent depreciation of the RMB, the advisory council deputy chief, Wang Hongzhang, who is also the chairman of China Construction Bank, told Xinhua in an interview. China has a healthy balance of international payments, thus remains competitive internationally. From a long-term perspective, the rise and fall of exchange rates are closely linked to the balance of payments under the current account. In the first half of 2016, China exports declined by 3.3 percent year on year due to weak external demand. With a huge current account surplus, there is no basis for persistent depreciation of the RMB, Wang said, adding that China current account surplus was 644.8 billion US dollars in the first half of 2016, or 2 percent of the gross domestic product GDP for the same period. (news.financializer.com). As reported in the news.