Overseas assets of $5.65t at end of Sept

Updated: 2013-12-24 17:09

By Gao Changxin in Shanghai (chinadaily.com.cn)

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The State Administration of Foreign Exchange said on Tuesday that overseas financial assets reached $5.65 trillion at the end of September.

Total debt held by foreign creditors was $3.85 trillion, resulting in a net asset of $1.8 trillion.

Analysts said the assets were mainly held by monetary authorities, whereas the private sector holds most of the debt. The mismatch means losses for the nation, against a background of rapid yuan appreciation and capital account controls.

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