ANZ has issued updated details of its Asian portfolio, aiming to reassure the market that its exposure to China is relatively small and secure.The bank's exposure at default to China was A$26.1 billion at June 30, which is about three per cent of the bank's total exposure at default. Of that amount, $9 billion is "onshore".Exposure at default, which is an estimate of outstanding debt at the time of counterparty default, is used in the calculation of regulatory capital.Just over half of the China exposure (55 per cent) is to financial institutions, with more than half of that being to the top five systemically important Chinese banks.ANZ said 88 per cent of its China exposure was on terms of less than one year.ANZ chief executive Mike Smith said in a statement: "Should there be issues our ability to reduce our exposure is very straightforward."The bank's China assets have a stronger average credit rating than its institutional exposures in Australia and New Zealand.ANZ's total institutional Asian exposure at default was $104 billion at June 30, which is about 12 per cent of group exposure at default.