SAFE Releases Data on China's External Portfolio Investment Assets by Country/Region and by Sector o...
Published: July 26, 2026
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Last verified: Jul 26, 2026 · Report an issue
Executive Summary
The State Administration of Foreign Exchange (SAFE) released data on China's external portfolio investment assets as of the end of 2025, totaling USD 1,987.5 billion. The portfolio is composed of USD 1,262.8 billion in equity investments and USD 724.7 billion in bond investments. The largest recipients include Hong Kong SAR, the United States, and offshore financial centers, while non-bank financial institutions hold the majority of assets. This data provides transparency into China's overseas investment patterns and sectoral distribution.
Key Points
China's external portfolio investment assets (excluding reserves) reached USD 1,987.5 billion at end-2025, up from previous years, reflecting continued capital outflows.
Equity investments accounted for USD 1,262.8 billion (63.5%) and bond investments for USD 724.7 billion (36.5%) of the total portfolio.
Hong Kong SAR was the top destination with USD 978.9 billion (49.3%), followed by the United States (USD 364.0 billion, 18.3%), Cayman Islands (USD 145.1 billion), British Virgin Islands (USD 65.2 billion), and the United Kingdom (USD 48.5 billion).
Non-bank financial institutions held the largest share at USD 1,108.7 billion (56%), banks held USD 566.7 billion (29%), and the non-financial sector held USD 312.1 billion (16%).
The data underscores the dominance of Hong Kong as a hub for Chinese overseas portfolio investments, likely due to its role as a gateway for capital flows.
This release is the first from SAFE in 2026 providing a country/region and sector breakdown, offering insights into China's global investment strategy and financial integration.
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