China’s Global Financial Power Grows as External Assets Hit Record
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China’s global financial footprint expanded last year, as its net external financial assets surged to a record $3.3 trillion as of year-end, an official report showed Friday.
That represented a 15.6% year-on-year increase, according to the country’s 2024 balance of payments report released by the State Administration of Foreign Exchange (SAFE).
The latest reading of net external financial assets, which measures the gap between what China owns abroad and what it owes to foreign entities, confirms that the country remained a net creditor to the world.
As of September, China retained its position as the world’s third-largest country by net external financial assets and as the top-ranked emerging economy in this regard, according to data from the International Monetary Fund. Germany and Japan took the top two spots, holding about $3.7 trillion and $3.6 trillion respectively, according to data compiler CEIC.
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- China's net external financial assets reached a record $3.3 trillion at the end of last year, a 15.6% annual increase.
- China ranked third globally in net external financial assets, behind Germany and Japan, with assets surpassing $10 trillion.
- Although foreign investments in China saw a net outflow of $12.4 billion, foreign direct equity and portfolio investments remained steady.
- Last year：
- Foreign investments in China recorded a net outflow of $12.4 billion.
- As of September 2024：
- China was the world's third-largest country by net external financial assets.
- Year-end 2024：
- China's total external financial assets crossed the $10 trillion mark for the first time.
- As of year-end 2024：
- China's net external financial assets surged to a record $3.3 trillion.
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