BEIJING: China's current account surplus fell 31 percent in the first half from a year earlier, to $87.8 billion, reflecting stronger imports into the world's second-biggest economy, official data showed on Friday.
The surplus stands at 2.8 percent of the country's gross domestic product, compared with 3.5 percent in the first quarter.
Some US lawmakers have lately repeated their complaints that China has undervalued the yuan, or renminbi, to help its exporters gain unfair competitive edge, thereby contributing to the global trade imbalance and hurting US workers, an accusation that Beijing denies.
The US Senate will vote on a bill next week aimed at putting pressure on China to let the yuan appreciate .
The State Administration of Foreign Exchange revised downward its current account surplus for the second quarter to $59.0 billion from an initial reading of $69.6 billion.
It revised upward the capital and financial account surplus, to $97.7 billion The country's stockpile of foreign exchange reserves shrunk by $9.8 billion in the second quarter, due to currency movements and changes in asset valuations, after a loss of $59.4 billion in the first three months, according to a Reuters calculation based on data from the top foreign exchange regulator and the central bank.
China's foreign exchange reserves are the world's largest, at $3.2 trillion at the end of June.
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