BEIJING -- China's capital and financial account deficit narrowed in the first quarter of 2016, adding to signals of easing capital outflow pressure, official data showed on May 6.
The deficit under the capital and financial account stood at 48.1 billion U.S. dollars for the three months ending in March, according to preliminary statistics released by the State Administration of Foreign Exchange (SAFE).
That was down from a final count of 50.6 billion U.S. dollars in the fourth quarter of 2015.
SAFE releases both preliminary and final figures on the balance of international payments each quarter.
Until recently, concerns about capital outflows had been on the rise as the economy slowed and the Chinese currency had fallen since China revamped its forex mechanism last year.
But resumed stability in international financial markets and positive signs in the domestic economy have reduced the pressure of capital outflow since the start of this year.
China's reserve assets, most of which are foreign exchange reserves, dropped 123.3 billion U.S. dollars in the first quarter, compared with a decrease of 115.3 billion U.S. dollars in the fourth quarter of 2015, according to SAFE.
The country reported a current account surplus of 48.1 billion U.S. dollars in the first quarter, down from 91.9 billion U.S. dollars in the previous quarter.
A single purchase
