China banking sector liabilities drop to US$140.8b

Business | 5 Jul 2020 3:38 pm

The net external liabilities of China's banking sector stood at US$140.8 billion as of the end of March, shrinking from the end of 2019, according to data from the forex regulator, Xinua reports.

The figure was US$159.1 billion at the end of 2019, the State Administration of Foreign Exchange (SAFE) said.

In breakdown, the sector reported combined external financial assets of US$1.21 trillion by the end of March, while their external liabilities totaled US$1.35 trillion.

By March, the external financial assets of Chinese banks included US$869.1 billion of deposits and loans, US$175.9 billion of bond investments and 162.5 billion dollars of equities and other assets.

SAFE started publishing external financial assets and liabilities of the banking sector for the first time in March 2016.

The data reflects foreign-related business operations in the banking industry as well as the global allocation of the sector's assets and liabilities, which are important for improving statistical transparency and monitoring cross-border capital flows.

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