Foreign media: China's persistent expansion of trade surplus creates conditions for further opening of the capital account. The Chief Economist for Greater China and North Asia at Standard Chartered Bank stated that the substantial trade surplus is fully capable of absorbing current capital outflows, and the larger the surplus, the greater the space China can allow for capital outflows.
In the first half of this year, China's exports grew by 17.6%, while imports increased by 26.6%. In June alone, the trade surplus expanded to $12.562 billion. Ding Shuang believes that China's ongoing investment in research and development and policies promoting the integration of industry and technology will long-term enhance global competitiveness, sustain large trade surpluses, thereby strengthening policymakers' confidence in opening the capital account and advancing the internationalization of the renminbi.
Original article: toutiao.com/article/1871411542035468/
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