Current account surplus to widen to 3.5% for next 2 years

Trade balance will still be deficit.

According to the Asian Development Bank, both imports and exports will grow, with the trade balance remaining in deficit.

However, the current account surplus is expected to widen to 3.5% of GDP in both 2014 and 2015 on growing net service receipts and income from PRC tourists.

Here’s more from ADB:

This is despite the Government of the PRC agreeing to temporarily tighten restrictions on travel to Hong Kong, China in response to mounting concerns about the burden tourist numbers place on public infrastructure.

The position of Hong Kong, China as an international financial center could strengthen as the PRC continues to open its capital account and to foster the renminbi’s expanded use internationally.

Export and import growth both accelerated slightly in 2013, reflecting economic recovery in the advance economies in the latter half of 2013.

Net services exports grew by 33%. The combined goods and services balance produced a modest surplus of $2.9 billion, and the current account surplus widened to 2.1% of GDP from 1.6% in 2012.