China external debt rises to $1.56 trn at June-end on short-term borrowing

The growth of external debt attributes to steady economic growth and stable foreign trade

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Press Trust of India Beijing
Last Updated : Sep 29 2017 | 7:48 PM IST
China's outstanding external debt continued to grow in the second quarter, totaling to $1.56 trillion.

The debt settled at $1.56 trillion at the end of June, up 8.7 per cent from a quarter earlier, the regulator State Administration of Foreign Exchange (SAFE) said in a statement.

The majority of China's external debt owed to foreign creditors results from short-term borrowing, while long and medium-term outstanding external debt accounted for 36 per cent, SAFE data showed.

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The SAFE attributed the growth of external debt to steady economic growth and stable foreign trade in the first half as well as the central government's efforts to facilitate cross-border financing.

The SAFE predicted steady growth of external debt as China's economic fundamental remains solid.

It also promised better debt management and strengthened supervision of capital flows.
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First Published: Sep 29 2017 | 7:48 PM IST