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Foreign exchange bureau: China's foreign debt balance at the end of September was US $ 20325 billion

来源: 证券日报 2019-12-30 08: 17: 44Source: Securities Daily

On December 27, the State Administration of Foreign Exchange announced data on China's full-caliber external debt at the end of September 2019. Data show that at the end of September, China's full-caliber (including local and foreign currency) foreign debt balance was US $ 20325 billion (excluding China's Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan's external debt), an increase of US $ 34.5 billion or 1.7% over the end of June 2019.

State Council Foreign Exchange spokesman and chief economist Wang Chunying pointed out that China's foreign debt structure has continued to optimize. The scale of local currency foreign debt and medium- and long-term foreign debt continued to rise steadily. At the end of September, the proportion of domestic currency foreign debt in the balance of full-caliber external debt was 34%, and the proportion of medium- and long-term foreign debt was 41%. The external debt structure continued to stabilize, driven by the growth of medium- and long-term external debt and local currency external debt, especially debt securities, which are inflows of "risk-sharing" capital.

At the same time, external debt risk indicators are sound. From the annual data, at the end of 2018, China's foreign debt balance ranked 13th in the world, and the foreign debts of the United States, the United Kingdom, and Japan were 10 times, 4 times, and 2 times that of China, respectively. At the end of 2018, the debt ratio of China's foreign debt was 14% (the ratio of the balance of external debt to GDP, the internationally recognized safety line was 20%), and the debt ratio was 74% (the ratio of the balance of external debt to the income from trade exports, the internationally recognized safety line was 100 %), Debt service ratio of 5.5% (the ratio of the external debt service and interest payments to trade export income, the internationally recognized safety line is 20%), the ratio of short-term external debt to foreign exchange reserves is 41% (the internationally recognized safety line is 100% ). Wang Chunying predicts that there will be no major changes in these main indicators of external debt at the end of 2019, which are all within the internationally recognized safety line and far below the overall level of developed and emerging countries.

Wang Chunying said that since this year, domestic and foreign risks and challenges have risen significantly, but the basic trend of China's economic stability and long-term improvement has not changed, China's international balance of payments has remained basically balanced, and its external debt structure has continued to optimize. (Reporter Liu Qi)

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