China Foreign Assets Reach 5.17 trillion dollars

China’s external financial assets expanded 9 percent to reach 5.17 trillion U.S. dollars by the end of 2012, the State Administration of Foreign Exchange (SAFE) said Monday.

On the back of slower growth in China’s increased foreign exchange reserves and overseas investment, the growth rate in external financial assets marked a 6-percentage point slowdown from the previous year, according to SAFE data.

Meanwhile, China’s external liabilities rose 13 percent year on year to 3.44 trillion U.S. dollars, resulting in net external financial assets of 1.74 trillion U.S. dollars last year, up 3 percent year on year.

China’s external financial assets consist of foreign exchange reserves, outbound direct investment (ODI), securities investment portfolios and other investment.

About 65 percent of China’s external financial assets were in the country’s 3.40 trillion U.S. dollars of foreign exchange reserves, marking the lowest proportion since 2008, according to the top foreign exchange regulator.

via Xinhua

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