SAFE Releases China's International Investment Position as at the End of 2025

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 2025ItemLine No.Position in 100 million USDPosition in 100 million SDRNet Position140713 29728 Assets2117860 86060 1 Direct Investment335787 26131 1.1  Equity and Investment Fund Shares430497 22269 1.2  Debt Instruments55289 3862 1.a  Financial Sectors64864 3551 1.1.a  Equity and Investment Fund Shares74635 3385 1.2.a  Debt Instruments8228 167 1.b  Non-financial Sectors930923 22580 1.1.b  Equity and Investment Fund Shares1025862 18884 1.2.b  Debt Instruments115061 3695 2 Portfolio Investment1219875 14513 2.1  Equity and Investment Fund Shares1312628 9221 2.2  Debt Securities147247 5292 3 Financial Derivatives  (other than reserves) and Employee Stock Options15261 191 4 Other Investment1624494 17885 4.1  Other Equity17100 73 4.2  Currency and Deposits186354 4640 4.3  Loans199677 7066 4.4  Insurance, Pension, and Standardized Guarantee Schemes20336 245 4.5  Trade Credit and Advances216739 4921 4.6  Others221288 941 5 Reserve Assets2337443 27341 5.1  Monetary Gold243195 2333 5.2  Special Drawing Rights25558 408 5.3  Reserve Position in the IMF26112 82 5.4  Foreign Currency Reserves2733579 24519 5.5  Other Reserve Assets280 0 Liabilities2977147 56332 1 Direct Investment3039819 29075 1.1  Equity and Investment Fund Shares3136966 26993 1.2  Debt Instruments322852 2083 1.a  Financial Sectors332242 1637 1.1.a  Equity and Investment Fund Shares342014 1470 1.2.a  Debt Instruments35228 167 1.b  Non-financial Sectors3637577 27438 1.1.b  Equity and Investment Fund Shares3734953 25522 1.2.b  Debt Instruments382624 1916 2 Portfolio Investment3923507 17165 2.1  Equity and Investment Fund Shares4016651 12158 2.2  Debt Securities416856 5007 3 Financial Derivatives  (other than reserves) and Employee Stock Options42242 177 4 Other Investment4313580 9916 4.1  Other Equity440 0 4.2  Currency and Deposits454728 3453 4.3  Loans463087 2254 4.4  Insurance, Pension, and Standardized Guarantee Schemes47320 234 4.5  Trade Credit and Advances484214 3077 4.6  Others49734 536 4.7  Special Drawing Rights50496 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”.