Tashkent, Uzbekistan (UzDaily.com) — By the end of September 2024, China’s external financial assets reached a record high of US$10.21 trillion, marking the first time in the country’s history that the figure exceeded US$10 trillion. This was reported by China’s State Administration of Foreign Exchange (SAFE).

Compared to the end of June 2024, the value increased by 4.3%, according to Xinhua News Agency.

China’s external financial liabilities amounted to US$7.03 trillion, resulting in net external assets of US$3.18 trillion.

According to Reuters, the asset growth was driven by the positive dynamics of reserves, which reached US$3.6 trillion. In terms of external liabilities, the largest portion (51%) consists of direct investment liabilities, also totaling US$3.6 trillion.

SAFE reports that for the first three quarters of 2024, China’s current account surplus amounted to US$241.3 billion. Bloomberg notes that the current account surplus-to-GDP ratio stood at 1.8%, reflecting a reasonable and balanced economic situation.

Economists from the Financial Times believe that these results reflect the strong resilience of the Chinese economy and its ability to adapt to global uncertainty in financial markets. Analysts attribute the increase in external assets to growth in exports and the stability of the national currency.

According to CNBC, China continues to strengthen its reserve assets, helping to mitigate risks associated with global economic instability.

A SAFE expert emphasized that the sustainable current account surplus-to-GDP ratio indicates balanced economic development, adding: "This provides a solid foundation for future growth and protection against external shocks."

The growth of China’s external assets not only bolsters the domestic economy but also influences global financial markets. The South China Morning Post notes that these achievements strengthen foreign investors’ confidence in the country, encouraging capital inflows.