BUSINESS Chinese banks' net external liabilities shrink by March

BUSINESS

Chinese banks' net external liabilities shrink by March

Xinhua

15:23, July 05, 2020

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, Sept 28, 2018. (Photo: Agencies)

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

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

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

By March, the external financial assets of Chinese banks included 869.1 billion dollars of deposits and loans, 175.9 billion dollars 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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