BEIJING — The net external liabilities of China's banking sector stood at $140.8 billion as of the end of March, shrinking from the end of 2019, according to data from the forex regulator.

The figure was $159.1 billion at the end of 2019, the State Administration of Foreign Exchange (SAFE) said.

In breakdown, the sector reported combined external financial assets of $1.21 trillion by the end of March, while their external liabilities totaled $1.35 trillion.

By March, the external financial assets of Chinese banks included $869.1 billion of deposits and loans, $175.9 billion of bond investments and $162.5 billion of equities and other assets.

SAFE started publishing external financial assets and liabilities of the banking sector for the first time in March 2016.

The data reflects foreign-related business operations in the banking industry as well as the global allocation of the sector's assets and liabilities, which are important for improving statistical transparency and monitoring cross-border capital flows.