The value of foreign financial assets held by China’s banking sector reached $1.77 trillion by the end of June.

Official data released by China’s State Administration of Foreign Exchange showed that the sector’s foreign financial liabilities amounted to about $1.54 trillion at the end of June, resulting in a net foreign asset surplus of $234.4 billion.

Deposits and loans assets exceeded $1.06 trillion, accounting for 60% of all foreign financial assets, while bond assets reached $452.6 billion, representing 26% of the total.

Total liabilities for deposits and loans reached $676.1 billion, while bond liabilities amounted to $356.1 billion. Earlier official data from the State Administration of Foreign Exchange indicated that China’s total foreign financial assets reached $9.79 trillion by the end of June.

China’s foreign financial liabilities stood at $6.8 trillion at the end of June, resulting in a net foreign asset position of about $2.99 trillion. Among the foreign financial assets, reserve assets amounted to $3.45 trillion, making up 35% of the total, while direct investment assets reached $3.02 trillion, representing 31% of the total.

Regarding foreign liabilities, direct investment liabilities were nearly $3.49 trillion, or 51% of the total, while portfolio investment liabilities reached $1.86 trillion, or 27% of the total.