Chinese banking sector's net external liabilities at $37.9b

BEIJING -- China's banking sector had $1.53 trillion of external financial assets and $1.57 trillion of external liabilities at the end of 2021, resulting in net external liabilities of $37.9 billion, new data showed.

Of the net liabilities, net renminbi liabilities stood at $462.5 billion, while net foreign currency assets totaled $424.6 billion, the State Administration of Foreign Exchange said Thursday.

Among the sector's external financial assets, renminbi assets accounted for some 15 percent of the total, while US dollar assets represented 66 percent.

Among external liabilities, renminbi liabilities accounted for 44 percent of the total, and US dollar liabilities were 36 percent of the total.