Offshore financial assets improve
China Daily | Updated: 2013-04-23 08:07
China added much less reserves last year via global investments, underlining an improvement in the country's portfolio of offshore financial assets.
The State Administration of Foreign Exchange said on Monday that only 30 percent of the newly added offshore financial assets last year were in the form of reserves, much lower than the average level of 65 percent seen since 2004.
The country's total reserve assets stood at $3,387.9 billion at the end of 2012, according to the nation's balance sheet of foreign exchange assets and liabilities, also known as the international investment position. The figure accounts for 65 percent of China's total offshore financial assets. The proportion is the lowest since 2008.
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