China sees current account deficit in Q1 - Xinhua News Agency

China saw current account deficit of $28.2 billion in the first three months, compared to a surplus of $18.4 billion a year ago, according to the State Administration of Foreign Exchange (SAFE). 

This is the first quarterly current account deficit in nearly 17 years and comes at a time when the US is pressing China to to reduce its huge trade surplus.

Key points (Source: Reuters, Xinhua News Agency)

Faster imports growth pushed China's goods trade to a more balanced level.

The goods trade saw a 35-percent decline in surplus - imports up 21 percent year-on-year and exports up 11 percent.