China’s external financial assets top 10 trln USD

China’s external financial assets stood at 10.21 trillion U.S. dollars at the end of September, official data showed on Friday.

The figure, surpassing the 10-trillion-dollar mark for the first time, represented a 4.3 percent growth from that at the end of June, according to the State Administration of Foreign Exchange (SAFE).

The external financial liabilities stood at over 7.03 trillion dollars at the end of September, resulting in 3.18 trillion dollars of net external assets, SAFE data showed.

Among the external financial assets, reserves assets reached 3.6 trillion U.S. dollars, while in external liabilities, direct investment liabilities were 3.6 trillion U.S. dollars or 51 percent of the total.

Friday’s data also showed that China’s current account surplus stood at 241.3 billion U.S. dollars in the first three quarters of 2024, and the current account surplus to gross domestic product (GDP) ratio stood at 1.8 percent during this period, remaining within a reasonable and balanced range.

Reference Link:- https://english.news.cn/20241227/cedeb60ce2134f978aa9e19ce0c74266/c.html

Prof. Engr. Zamir Ahmed Awan Founder & Chair, Global Silk Route Research Alliance

Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…