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As at the end of June 2025, China’s external financial assets reached USD 11064.5 billion, external financial liabilities reached USD 7255.5 billion, and net external assets totaled USD 3809.0 billion. In the external financial assets, direct investment assets amounted to USD 3349.1 billion, portfolio investment assets, USD 1694.2 billion, financial derivative assets, USD 26.3 billion, other investment assets, USD 2367.9 billion, and reserves assets, USD 3627.1 billion, accounting for 30 percent, 15 percent, 0.2 percent, 21 percent and 33 percent of external financial assets respectively. In external liabilities, direct investment liabilities were USD 3717.4 billion, portfolio investment liabilities, USD 2160.7 billion, financial derivative liabilities, USD 26.3 billion and other investment liabilities, USD 1351.1 billion, accounting for 51 percent, 30 percent, 0.4 percent and 19 percent of the external financial liabilities respectively. In SDR terms, China’s external financial assets and liabilities reached SDR 8052.8 billion and SDR 5280.6 billion respectively, and external net assets totaled SDR 2772.2 billion at the end of June 2025. In addition, in order to facilitate understanding of the data of Balance of Payments and International Investment Position among all data users, the BOP Analysis Team of the SAFE released China's Balance of Payments Report for the First Half of 2025.(End) China's International Investment Position, End of June 2025 Item Line No. Position in 100 million USD Position in 100 million SDR Net Position 1 38090 27722 Assets 2 110645 80528 1 Direct Investment 3 33491 24375 1.1 Equity and Investment Fund Shares 4 29373 21377 1.2 Debt Instruments 5 4118 2997 1.a Financial Sectors 6 4676 3403 1.1.a Equity and Investment Fund Shares 7 4335 3155 1.2.a Debt Instruments 8 341 248 1.b Non-financial Sectors 9 28815 20972 1.1.b Equity and Investment Fund Shares 10 25037 18222 1.2.b Debt Instruments 11 3778 2749 2 Portfolio Investment 12 16942 12330 2.1 Equity and Investment Fund Shares 13 10763 7833 2.2 Debt Securities 14 6179 4497 3 Financial Derivatives (other than reserves) and Employee Stock Options 15 263 191 4 Other Investment 16 23679 17233 4.1 Other Equity 17 100 72 4.2 Currency and Deposits 18 5930 4316 4.3 Loans 19 8962 6523 4.4 Insurance, Pension, and Standardized Guarantee Schemes 20 340 247 4.5 Trade Credit and Advances 21 7224 5258 4.6 Others 22 1123 818 5 Reserve Assets 23 36271 26398 5.1 Monetary Gold 24 2429 1768 5.2 Special Drawing Rights 25 559 407 5.3 Reserve Position in the IMF 26 113 82 5.4 Foreign Currency Reserves 27 33174 24144 5.5 Other Reserve Assets 28 -5 -4 Liabilities 29 72555 52806 1 Direct Investment 30 37174 27055 1.1 Equity and Investment Fund Shares 31 34558 25151 1.2 Debt Instruments 32 2616 1904 1.a Financial Sectors 33 2155 1568 1.1.a Equity and Investment Fund Shares 34 1983 1443 1.2.a Debt Instruments 35 172 125 1.b Non-financial Sectors 36 35019 25487 1.1.b Equity and Investment Fund Shares 37 32575 23708 1.2.b Debt Instruments 38 2444 1779 2 Portfolio Investment 39 21607 15726 2.1 Equity and Investment Fund Shares 40 13810 10051 2.2 Debt Securities 41 7797 5674 3 Financial Derivatives (other than reserves) and Employee Stock Options 42 263 191 4 Other Investment 43 13511 9834 4.1 Other Equity 44 0 0 4.2 Currency and Deposits 45 4867 3542 4.3 Loans 46 3174 2310 4.4 Insurance, Pension, and Standardized Guarantee Schemes 47 316 230 4.5 Trade Credit and Advances 48 3821 2781 4.6 Others 49 836 608 4.7 Special Drawing Rights 50 497 362 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”. 2025-09-30/en/2025/0930/2350.html
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As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in September 2025, the amount of foreign exchange settlement and sales by banks was RMB 1880.9 billion and RMB 1518.3 billion, respectively. During January to September 2025, the accumulative amount of foreign exchange settlement and sales by banks was RMB 13274.7 billion and RMB 12826.1 billion, respectively. In the US dollar terms, in September 2025, the amount of foreign exchange settlement and sales by banks was USD 264.7 billion and USD 213.6 billion, respectively. During January to September 2025, the accumulative amount of foreign exchange settlement and sales by banks was USD 1853.3 billion and USD 1790.1 billion, respectively. In September 2025, the amount of cross-border receipts and payments by non-banking sectors was RMB 4840.9 billion and RMB 4862.9 billion, respectively. During January to September 2025, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 42062.8 billion and RMB 41202.9 billion, respectively. In the US dollar terms, in September 2025, the amount of cross-border receipts and payments by non-banking sectors was USD 681.2 billion and USD 684.3 billion, respectively. During January to September 2025, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 5870.5 billion and USD 5750.8 billion, respectively. Addendum: Glossary and relevant definitions Balance of payments (BOP) refers to all economic transactions between residents and non-residents. Foreign exchange settlement and sales by banks refers to settlement and sale transaction that bank executes for customers and for the banks themselves, including statistic data on settlements of forward contracts for foreign exchange settlement and sales and the exercises of option, and excluding the transactions in the interbank foreign exchange market. The statistic reporting date of Foreign exchange settlement and sales by banks should be the trade day of the Foreign exchange settlement and sales transaction. By definition, foreign exchange settlement means that foreign exchange holders sell foreign exchange to banks, and foreign exchange sales means that banks sell foreign exchange to foreign exchange buyers. The newly signed contract amount of forward foreign exchange settlement and sales refers to the binding forward contract between a bank and its client that predetermines foreign exchange currency, amount, exchange rate and tenor which to be executed upon maturity. The unwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forward contract due to change in its real demand, client to fully or partially close its forward position by executing another deal with opposite direction to the original contract. The rolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract due to change in its real demand. The outstanding amount of forward foreign exchange settlement and sales by the end of the current period refers to the total amount of forward contracts accumulated from all non-matured forward contracts with client. The net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client. The cross-border receipts and payments by non-banking sectors refers to the receipts and payments between domestic non-banking sectors (including institutional and individual residents) and non-residents through domestic banks, excluding cash transactions and bank’s own cross-border receipts and payments. In particular, the statistics includes cross-border receipts and payments between non-banking sectors and non-residents through domestic banks (including RMB and foreign currency), and domestic receipts and payments between non-banking sectors and non-residents through domestic banks (temporarily excluding domestic receipts and payments in RMB between individual/institutional residents and non-resident individuals). Data are collected when customers conduct receipts and payments with non-resident counterparties at domestic banks. Specifically, the receipts refer to funds received by non-banking sectors from non-residents via domestic banks; the payments refer to funds paid by non-banking sectors to non-residents via domestic banks. 2025-10-22/en/2025/1022/2353.html
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As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in October 2025, the amount of foreign exchange settlement and sales by banks was RMB 1519.4 billion and RMB 1394.0 billion, respectively. During January to October 2025, the accumulative amount of foreign exchange settlement and sales by banks was RMB 14794.1 billion and RMB 14220.1 billion, respectively. In the US dollar terms, in October 2025, the amount of foreign exchange settlement and sales by banks was USD 214.2 billion and USD 196.5 billion, respectively. During January to October 2025, the accumulative amount of foreign exchange settlement and sales by banks was USD 2067.5 billion and USD 1986.6 billion, respectively. In October 2025, the amount of cross-border receipts and payments by non-banking sectors was RMB 4420.7 billion and RMB 4057.9 billion, respectively. During January to October 2025, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 46483.6 billion and RMB 45260.7 billion, respectively. In the US dollar terms, in October 2025, the amount of cross-border receipts and payments by non-banking sectors was USD 623.1 billion and USD 571.9 billion, respectively. During January to October 2025, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 6493.6 billion and USD 6322.7 billion, respectively. Addendum: Glossary and relevant definitions Balance of payments (BOP) refers to all economic transactions between residents and non-residents. Foreign exchange settlement and sales by banks refers to settlement and sale transaction that bank executes for customers and for the banks themselves, including statistic data on settlements of forward contracts for foreign exchange settlement and sales and the exercises of option, and excluding the transactions in the interbank foreign exchange market. The statistic reporting date of Foreign exchange settlement and sales by banks should be the trade day of the Foreign exchange settlement and sales transaction. By definition, foreign exchange settlement means that foreign exchange holders sell foreign exchange to banks, and foreign exchange sales means that banks sell foreign exchange to foreign exchange buyers. The newly signed contract amount of forward foreign exchange settlement and sales refers to the binding forward contract between a bank and its client that predetermines foreign exchange currency, amount, exchange rate and tenor which to be executed upon maturity. The unwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forward contract due to change in its real demand, client to fully or partially close its forward position by executing another deal with opposite direction to the original contract. The rolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract due to change in its real demand. The outstanding amount of forward foreign exchange settlement and sales by the end of the current period refers to the total amount of forward contracts accumulated from all non-matured forward contracts with client. The net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client. The cross-border receipts and payments by non-banking sectors refers to the receipts and payments between domestic non-banking sectors (including institutional and individual residents) and non-residents through domestic banks, excluding cash transactions and bank’s own cross-border receipts and payments. In particular, the statistics includes cross-border receipts and payments between non-banking sectors and non-residents through domestic banks (including RMB and foreign currency), and domestic receipts and payments between non-banking sectors and non-residents through domestic banks (temporarily excluding domestic receipts and payments in RMB between individual/institutional residents and non-resident individuals). Data are collected when customers conduct receipts and payments with non-resident counterparties at domestic banks. Specifically, the receipts refer to funds received by non-banking sectors from non-residents via domestic banks; the payments refer to funds paid by non-banking sectors to non-residents via domestic banks. 2025-11-17/en/2025/1117/2362.html
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The State Administration of Foreign Exchange (SAFE) has recently released the data on the purchases and sales of foreign exchange by banks and the cross-border receipts and payments by non-banking sectors for September 2025. SAFE Deputy Administrator and Press Spokesperson Li Bin answered media questions on foreign exchange market situation for September 2025. Q: Could you brief us on China’s foreign exchange market situation in September 2025? A: China's foreign exchange market operated smoothly in September, showing two main trends. First, cross-border capital flows remained active and balanced. The cross-border receipts and payments by enterprises, individuals and other non-banking sectors reached USD 1.37 trillion in September, representing a month-on-month increase of 7%. Specifically, the cross-border receipts and payments under both the current account and the financial account registered growth, demonstrating the steady development of China's foreign-related economy. Due to seasonal effects of the National Day holiday on cross-border receipts and payments, the cross-border capital experienced a slight net outflow of USD 3.1 billion in September, but has turned into net inflow since October. By component, China’s foreign trade maintained steady growth, with a high-level net inflow under trade in goods in September, while cross-border capital flows under trade in services and investment income remained stable. Second, the supply and demand of the foreign exchange market remained relatively balanced. In September, foreign exchange purchases and sales by non-banking sectors showed significant month-on-month growth, with enterprises and other entities flexibly engaging in foreign exchange transactions based on their own needs. The surplus of foreign exchange purchases and sales by banks in September reached USD 51 billion. Net balance of foreign exchange was higher in early and mid-September, while the difference of foreign exchange purchases and sales tended to balance out in late September. Since October, foreign exchange purchases and sales by non-banking sectors have been roughly equal, indicating a basically balanced supply and demand in the foreign exchange market. In the first three quarters of this year, China’s total cross-border payments and receipts reached USD 11.6 trillion, hitting a record high for the same period. Net cross-border capital flows stood at USD 119.7 billion, and the surplus of foreign exchange purchases and sales by banks reached USD 63.2 billion, both higher than the same period last year. Overall, despite a complex external environment, China’s foreign exchange market has operated steadily this year, with stable market expectations, balanced supply and demand, as well as strong resilience and vitality. 2025-10-22/en/2025/1022/2361.html
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The State Administration of Foreign Exchange (SAFE) has recently released the data on the purchases and sales of foreign exchange by banks and the cross-border receipts and payments by non-banking sectors for August 2025. SAFE Deputy Administrator and Spokesperson Li Bin answered media questions on foreign exchange market situation for August 2025. Q: How would you assess China’s foreign exchange market situation in August 2025? A: China’s foreign exchange market operated smoothly in August. First, market transactions remained active. The cross-border receipts and payments by enterprises, individuals and other non-banking sectors reached USD 1.3 trillion in August, representing a year-on-year increase of 8%. Specifically, the cross-border receipts and payments under both the current account and the financial account registered growth, while cross-border trade, investment and financing maintained steady development. Second, the supply and demand of the foreign exchange market remained balanced in general. In August, the net cross-border capital inflow reached USD 3.2 billion, while the foreign exchange purchases and sales by banks registered a surplus of USD 14.6 billion. By component, the net inflow of funds under trade in goods remained stable, overseas investors generally recorded net purchases of domestic stocks and bonds, and the net outflows of funds for trade in services and investment income eased back from seasonal highs. Overall, China’s foreign exchange market transactions remained active, the supply and demand of foreign exchange were basically in equilibrium, and market expectations exhibited stability. 2025-09-19/en/2025/0919/2346.html
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As at the end of June 2025, China's banking sector recorded external financial assets of USD 1772.1 billion, external liabilities of USD 1537.7 billion, and net external assets of USD 234.4 billion, including net RMB liabilities of USD 317.1 billion and net foreign currency assets of USD 551.5 billion. Among the external financial assets of the banking sector, by instrument, deposits and loans were USD 1063.8 billion, bonds investment, USD 452.6 billion, and other assets including equity, USD 255.7 billion, accounting for 60 percent, 26 percent and 14 percent of the sector's total external financial assets respectively. By currency, RMB assets were USD 490.2 billion, USD assets were USD 900.8 billion, and other currency assets were USD 381.2 billion, accounting for 28 percent, 51 percent and 22 percent respectively. By counterpart sector, the amount invested in the overseas banking sector was USD 882.0 billion, accounting for 50 percent; the amount invested in the overseas non-banking sector was USD 890.1 billion, accounting for 50 percent. Among the external liabilities of the banking sector, by instrument, deposits and loans were USD 676.1 billion, bonds investment, USD 356.1 billion, and other liabilities including equity, USD 505.6 billion, accounting for 44 percent, 23 percent and 33 percent of the sector's total external liabilities respectively. By currency, RMB liabilities were USD 807.3 billion, USD liabilities, USD 320.3 billion, and other currency liabilities, USD 410.1 billion, accounting for 52 percent, 21 percent and 27 percent respectively. By counterpart sector, USD 620.1 billion was from overseas banking sector, accounting for 40 percent; while USD 917.6 billion was from overseas non-banking sector, accounting for 60 percent. (End) 2025-09-29/en/2025/0929/2342.html
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According to the statistics of the State Administration of Foreign Exchange (SAFE), the Chinese foreign exchange market (excluding foreign currency pairs, the same below) recorded total transactions of RMB 26.87 trillion (equivalent to USD 3.78 trillion) in September 2025. In terms of markets, the transactions volume of client market was RMB 4.43 trillion (equivalent to USD 0.62 trillion), and the transactions volume of interbank market was RMB 22.44 trillion (equivalent to USD 3.16 trillion). In terms of products, the cumulative transactions volume of the spot market was RMB 9.87 trillion (equivalent to USD 1.39 trillion), and that of the derivatives market was RMB 17.00 trillion (equivalent to USD 2.39 trillion). From January to September 2025, a total of RMB 230.10 trillion (equivalent to USD 32.11 trillion) was traded in the Chinese foreign exchange market. 2025-10-31/en/2025/1031/2356.html
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External Financial Assets and Liabilities of China's Banking Sector(As of June 30,2025) 2025-09-29/en/2025/0929/2343.html
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According to the statistics released by the State Administration of Foreign Exchange (SAFE), by the end of September 2025, China's foreign exchange reserves totaled USD 3.3387 trillion, up by USD 16.5 billion or 0.5% from the end of August 2025. In September 2025, driven by factors such as macroeconomic data, monetary policies and market expectations of major economies, the US dollar index experienced minor fluctuations, while global financial asset prices generally rose. China's foreign exchange reserves increased this month due to the combined effects of currency translation and changes in asset prices. China's economy sustains stable performance, with solid progress continuing to be made in high-quality development, which is conducive to the stabilization of foreign exchange reserves. 2025-10-07/en/2025/1007/2352.html
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FILE： Annual Report of the State Administration of Foreign Exchange (2023) 2024-11-29/en/2020/1221/2354.html