China’s external debt rises to $ 2.7 trillion

The debt in being from China amounted to $ 2.7 trillion at the end of last September, according to figures released by the National Foreign Exchange Authority.

The authority said this figure is $ 16.7 billion, or 0.6%, higher than its counterpart registered at the end of June.

The agency’s deputy director and spokesperson, Wang Chunying, said the scale of China’s external debt has generally maintained stability and that the foreign debt structure has improved during the third quarter, citing Chinese agency “Xinhua” today. , Sunday.

The ratio of average debt to long-term debt reached 47%, in 3 percentage point increase from the end of June, Wang said, noting that the increase further strengthened the structural stability of external debt.

Wang said the rise of foreign investors in their holdings in denominated bonds in yuan reflects the results of the opening up of the Chinese bond market and investor confidence in China’s economic prospects.

Wang warned that the international situation should become complex and bleak, given the resurgence of the COVID-19 pandemic and the gradual abandonment of monetary easing by some advanced economies.

Noting that despite external pressures, the foundations of China’s long-term economic development will remain unchanged thanks to its strong economic resilience, Wang promised that the country will pay close attention to changes in external debt and take concrete steps to reject cross-border financing. . risks.

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