Abstract: On the analysis of Chinese national foreign assets and liabilities, the paper sets up the International Investment Position of China from 1984 to 2009, and analyzes the structures of the assets and liabilities and their tendency. Furthermore, the characteristics of the data show that there are some structural risks in China's foreign assets and liabilities due to the unmatched sectors holding the assets and liabilities respectively, the dollar-denominated International Investment Position and the unreasonable investment of the foreign reserves. Finally, our findings also suggest that China should increase the quantity of its imports and outward investment, enhance foreign exchange reserve management and further develop China's capital market.