Current account surplus grew in first half

China's current account surplus reached US$162.9 billion in the first half of this year, the Wall Street Journal reported. Last year's first-half current account surplus was US$91.58 billion. The State Administration of Foreign Exchange said that "potential risks should not be ignored" in the country's economic growth in the second half of the year. One reason for the large current account surplus this year was a cancellation of export tax rebates on July 1 that caused exporters to rush goods through in the first half, SAFE said. The administration said it was studying ways to reduce the surplus, including reducing restrictions on foreign organizations raising yuan-denominated funds.