Foreign investment Illustration: VCG
In the first three quarters of the year, China has seen consistent net inflows of various inbound investments, with securities investments alone recording a net inflow of $93.1 billion, marking four consecutive quarters of positive inflows, according to data from the State Administration of Foreign Exchange (SAFE) released on Friday.
The trend reflects more foreign capital investing and establishing businesses in China, which highlights global investors’ optimism about the Chinese market and the appeal of China’s ongoing opening-up policy and its steady economic growth for asset allocation, analysts said.
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In a statement released on its official website, Li Bin, the deputy head of SAFE, said in the first nine months, China’s international payments under the current account have remained generally balanced, with orderly cross-border two-way investment and financing activities.
Various inbound investments have shown net inflows over the January-September period, with securities investments coming to China recording net inflows of $93.1 billion, maintaining net inflows for four consecutive quarters, and foreign capital increasing its allocation of yuan assets, per the statement.
“Overall, China’s economic foundation is solid, with many advantages, strong resilience, and great potential,” Li said in the statement, noting that the supportive conditions and fundamental trends for long-term improvement have not changed, which will continue to provide strong support for maintaining the basic balance of China’s international payments.
The latest data also show that in the first three quarters, China’s outward investments of various types have grown steadily, with net increases in financial account assets of $314.9 billion.
According to the SAFE data, by the end of September 2024, China’s external assets had reached $10.2129 trillion, surpassing the $10 trillion-mark for the first time, an increase of 4.3 percent compared to the end of June. The scale of external liabilities was $703,120 billion, an increase of 3.3 percent.
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Furthermore, China’s external asset and liability structures have further optimized. Among external assets, reserve assets stand at $3.6 trillion, continuing to hold the largest global scale.
In terms of external liabilities, direct investments into China account for 51 percent, amounting to $3.6 trillion, while the proportions of securities investments and other investments have remained essentially stable, according to the SAFE.
On the same day, data released by SAFE showed that in November, the import and export scale of goods and services for China’s international payments reached 4.2792 trillion yuan ($586 billion), an increase of 3 percent year-on-year.
In November, China’s goods trade exports reached 2.1509 trillion yuan, while imports amounted to 1.5663 trillion yuan. In the services trade sector, exports totaled 236.2 billion yuan, whereas imports stood at 325.8 billion yuan, the SAFE data showed.
Global Times
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