China's current account surplus rose to $426.1 billion in 2008 from $371.8 billion surplus in 2007, the State Administration of Foreign Exchange, or SAFE, said Friday.

Meanwhile, capital and financial account surplus fell to $18.9 billion, from $73.51 billion in 2007. Capital account surplus was $3.05 billion, down from the previous year's $3.10 billion. The financial account surplus contracted to $15.91 billion from a huge $70.41 billion.

The SAFE pledged to improve the international balance of payments in 2009.

The surplus in goods trade rose to $360.68 billion from $315.38 billion, while the deficit in services expanded to $11.81 billion from $7.90 billion shortfall. It took the total trade surplus to $348.87 billion in 2008, an increase from the previous year's $307.48 billion.

Further, the foreign exchange regulator said China's short-term debt fell to $210.8 billion and accounted for 56% of the country's foreign debt.

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