China’s External Financial Assets Exceed $10 Trillion for the First Time

Beijing, The Gulf Observer: China’s external financial assets reached 10.21 trillion U.S. dollars by the end of September, marking the first time the figure has surpassed the 10-trillion-dollar mark, according to official data released on Friday.

The State Administration of Foreign Exchange (SAFE) reported a 4.3 percent increase from the assets recorded at the end of June. External financial liabilities stood at over 7.03 trillion dollars, resulting in net external assets of 3.18 trillion dollars.

Among the external financial assets, reserve assets accounted for 3.6 trillion U.S. dollars, while in external liabilities, direct investment liabilities also totaled 3.6 trillion dollars, representing 51 percent of the total.

Additionally, SAFE data highlighted that China’s current account surplus amounted to 241.3 billion U.S. dollars during the first three quarters of 2024. The current account surplus to gross domestic product (GDP) ratio stood at 1.8 percent, remaining within a reasonable and balanced range.