BEIJING -- Overseas investment in China's domestic securities market reached $32.2 billion in the first quarter (Q1) of 2024, according to official data released on Friday.

This figure reflects foreign investors' increasing interest in pursuing RMB-denominated assets, according to the State Administration of Foreign Exchange (SAFE).

In Q1, China saw orderly development of cross-border two-way investment and financing, with a net increase of $138.9 billion in financial account assets, said Wang Chunying, deputy director and spokesperson of SAFE.

China's solid progress in high-quality development and steady economic recovery and operation is conducive to a generally stable balance of payments, said Wang.