As at the end of 2025, China’s external financial assets reached USD 11786.0 billion, external financial liabilities reached USD 7714.7 billion, and net external assets totaled USD 4071.3 billion.
In the external financial assets, direct investment assets amounted to USD 3578.7 billion, portfolio investment assets, USD 1987.5 billion, financial derivative assets, USD 26.1 billion, other investment assets, USD 2449.4 billion, and reserves assets, USD 3744.3 billion, accounting for 30 percent, 17 percent, 0.2 percent, 21 percent and 32 percent of external financial assets respectively.
In external liabilities, direct investment liabilities were USD 3981.9 billion, portfolio investment liabilities, USD 2350.7 billion, financial derivative liabilities, USD 24.2 billion and other investment liabilities, USD 1358.0 billion, accounting for 52 percent, 30 percent, 0.3 percent and 18 percent of the external financial liabilities respectively.
In SDR terms, China’s external financial assets and liabilities reached SDR 8606.0 billion and SDR 5633.2 billion respectively, and external net assets totaled SDR 2972.8 billion at the end of 2025.
The SAFE has revised the International Investment Position for each quarter since 2024 according to the latest data source. To further increase the data transparency, the SAFE has released breakdowns by sector and maturity as at the end of 2025. The data can be found in the section of "Data and Statistics" at the official website of the SAFE.
In addition, in order to facilitate understanding of China's Balance of Payments and International Investment Position, the BOP Analysis Team of the SAFE has released China's Balance of Payments Report 2025. (End)
Abridged International Investment Position,
End of 2025
Item | Line No. | Position in 100 million USD | Position in 100 million SDR |
Net Position | 1 | 40713 | 29728 |
Assets | 2 | 117860 | 86060 |
1 Direct Investment | 3 | 35787 | 26131 |
1.1 Equity and Investment Fund Shares | 4 | 30497 | 22269 |
1.2 Debt Instruments | 5 | 5289 | 3862 |
1.a Financial Sectors | 6 | 4864 | 3551 |
1.1.a Equity and Investment Fund Shares | 7 | 4635 | 3385 |
1.2.a Debt Instruments | 8 | 228 | 167 |
1.b Non-financial Sectors | 9 | 30923 | 22580 |
1.1.b Equity and Investment Fund Shares | 10 | 25862 | 18884 |
1.2.b Debt Instruments | 11 | 5061 | 3695 |
2 Portfolio Investment | 12 | 19875 | 14513 |
2.1 Equity and Investment Fund Shares | 13 | 12628 | 9221 |
2.2 Debt Securities | 14 | 7247 | 5292 |
3 Financial Derivatives (other than reserves) and Employee Stock Options | 15 | 261 | 191 |
4 Other Investment | 16 | 24494 | 17885 |
4.1 Other Equity | 17 | 100 | 73 |
4.2 Currency and Deposits | 18 | 6354 | 4640 |
4.3 Loans | 19 | 9677 | 7066 |
4.4 Insurance, Pension, and Standardized Guarantee Schemes | 20 | 336 | 245 |
4.5 Trade Credit and Advances | 21 | 6739 | 4921 |
4.6 Others | 22 | 1288 | 941 |
5 Reserve Assets | 23 | 37443 | 27341 |
5.1 Monetary Gold | 24 | 3195 | 2333 |
5.2 Special Drawing Rights | 25 | 558 | 408 |
5.3 Reserve Position in the IMF | 26 | 112 | 82 |
5.4 Foreign Currency Reserves | 27 | 33579 | 24519 |
5.5 Other Reserve Assets | 28 | 0 | 0 |
Liabilities | 29 | 77147 | 56332 |
1 Direct Investment | 30 | 39819 | 29075 |
1.1 Equity and Investment Fund Shares | 31 | 36966 | 26993 |
1.2 Debt Instruments | 32 | 2852 | 2083 |
1.a Financial Sectors | 33 | 2242 | 1637 |
1.1.a Equity and Investment Fund Shares | 34 | 2014 | 1470 |
1.2.a Debt Instruments | 35 | 228 | 167 |
1.b Non-financial Sectors | 36 | 37577 | 27438 |
1.1.b Equity and Investment Fund Shares | 37 | 34953 | 25522 |
1.2.b Debt Instruments | 38 | 2624 | 1916 |
2 Portfolio Investment | 39 | 23507 | 17165 |
2.1 Equity and Investment Fund Shares | 40 | 16651 | 12158 |
2.2 Debt Securities | 41 | 6856 | 5007 |
3 Financial Derivatives (other than reserves) and Employee Stock Options | 42 | 242 | 177 |
4 Other Investment | 43 | 13580 | 9916 |
4.1 Other Equity | 44 | 0 | 0 |
4.2 Currency and Deposits | 45 | 4728 | 3453 |
4.3 Loans | 46 | 3087 | 2254 |
4.4 Insurance, Pension, and Standardized Guarantee Schemes | 47 | 320 | 234 |
4.5 Trade Credit and Advances | 48 | 4214 | 3077 |
4.6 Others | 49 | 734 | 536 |
4.7 Special Drawing Rights | 50 | 496 | 362 |
Notes:1. This table employs rounded-off numbers.
2.Net International Investment Position refers to assets minus liabilities. Positive figure refers to net assets, and negative figure refers to net liabilities.
3.The SDR denominated data is converted from the USD denominated data, using the exchange rate of SDR against USD at the end of the quarter.
4.The IIP data is revised regularly; please find the latest data in “Data and Statistics”.
