China Nets $1.5t in Foreign Financial Assets

China's foreign financial assets grew 23% to $2.9 trillion and liabilities grew 17% to $1.4 trillion in 2008, the State Administration of Foreign Exchange said Tuesday. Among the major assets were $169.4 billion in Chinese direct investment overseas, $251.9 billion in securities investment and $1,966 billion in foreign exchange reserves. Among the major debts were $876.3 billion in foreign direct investment in China and $161.2 billion in securities investment.

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