China's banking industry sees growing external assets

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 U.S. dollars by the end of September, up from 777.9 billion dollars 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 dollars by September, resulting in net external liabilities of 152 billion dollars.

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

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

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

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. Endi