China trims Q3 current account surplus

BEIJING - China on Wednesday lowered its current account surplus for the third quarter and revised its estimate for the capital and financial account from a deficit to a surplus.

The third-quarter surplus under the current account was cut to $60.3 billion from a preliminary estimate of $63.4 billion, data from the State Administration of Foreign Exchange (SAFE) showed.

China reported a second-quarter surplus of $73 billion.

The country posted a $11.4 billion surplus in its capital and financial account in the three months ending September, a revision from an initial deficit of $63.4 billion for the period, the SAFE said.

It also revised the current account surplus for the first three quarters to $208.9 billion, down from a previous estimate of $212 billion, and cut the capital and financial account deficit during the period to $47 billion from $121.9 billion.