BUSINESS China's external debt slightly up

BUSINESS

China's external debt slightly up

CGTN

11:19, June 27, 2020

China's outstanding foreign debt stood at 2.0946 trillion U.S. dollars by the end of March, data from the country's forex regulator showed.

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Photo: VCG

The amount was 1.8 percent higher than that at the end of 2019, said Wang Chunying, spokeswoman and chief economist at the State Administration of Foreign Exchange (SAFE).

The country's external debt structure continues to improve amid stable expansion in recent years, according to Wang.

Facing the COVID-19 epidemic, the central bank and SAFE have rolled out a raft of measures to facilitate cross-border financing without triggering a sharp increase in external debt volume, according to Wang.

Wang said that the overall foreign debt risk is controllable and she expected stable operations in the future.

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