China sees improved external debt structure-Xinhua

China sees improved external debt structure

Source: Xinhua

Editor: huaxia

2022-01-02 12:20:40

BEIJING, Jan. 2 (Xinhua) -- China's outstanding foreign debt stood at approximately 2.7 trillion U.S. dollars by the end of September, data from the country's forex regulator shows.

The figure was 16.7 billion U.S. dollars, or 0.6 percent, higher than that seen at the end of June, according to the State Administration of Foreign Exchange (SAFE).

The scale of China's foreign debt maintained general stability and the structure of external debt improved in the third quarter, said Wang Chunying, deputy director and spokesperson of SAFE.

The proportion of medium and long-term debt was 47 percent, up 3 percentage points from the end of June, Wang said, stressing that the increase further enhanced structural stability.

Foreign investors increasing their holdings of yuan-denominated bonds reflects the opening-up achievements of China's bond market and investor confidence in China's economic outlook, Wang said.

Wang warned that the international situation is expected to be complex and grim, given the resurgence in the COVID-19 pandemic and the gradual exits of some developed economies from the easing monetary policies.

Despite the external pressure, the fundamentals of China's long-term economic development will remain unchanged thanks to its strong economic resilience, Wang said, vowing that the country will pay close attention to the changes in foreign debt and take concrete steps to ward off cross-border financing risks. Enditem