China's banking industry sees growing external assets

BEIJING - China's banking industry recorded more external financial assets by the end of September compared with the second quarter, according to official figures.

China's banking industry, excluding the central bank, reported external financial assets of $827.6 billion dollars by the end of September, up from $777.9 billion at the end of June, the State Administration of Foreign Exchange (SAFE) said.

However, the nation's banking industry witnessed external liabilities growing at an increased pace, reaching $979.6 billion by September, resulting in net external liabilities of $152 billion.

The net external liabilities figure increased from $140 billion at the end of June, said SAFE.

By September, external financial assets of the banking industry reached $633 billion for deposits and loans, with bonds investment reaching $81.8 billion, and other assets, including equity, topping $112.8 billion.

Breakdown figures by currency showed RMB external financial assets were $84.9 billion by September, with US dollar assets reaching $582.3 billion and assets in other currencies standing at $160.4 billion.

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

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