China's foreign debt rises 3.7% to US$2.13 trillion in first half 2020 amid Covid-19 crisis


BEIJING, Oct. 6 (Xinhua) -- China has seen a steady rise in outstanding foreign debt in the first half of this year (H1) amid government measures to facilitate cross-border financing.

The country's outstanding foreign debt stood at 2.13 trillion U.S. dollars by the end of H1, up 75.1 billion dollars from the end of 2019, an increase of 3.7 percent, data from the State Administration of Foreign Exchange showed.

The increase came as the country rolled out a raft of measures to facilitate cross-border financing to support COVID-19-hit enterprises.

Among the measures, the country adjusted a key parameter in its macro-prudential management in March to allow domestic firms to take on more foreign debt while cutting administrative red tape to save time and costs for companies.

The increase in foreign debt is a combined result of continued opening up by the country, policies to facilitate cross-border financing as well as bullish sentiment among international investors toward the Chinese market, the administration said.

The scale of the country's foreign debt is reasonable while the structure has seen continued improvement, and the risk of foreign debt is generally controllable, the administration said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

100% readers found this article insightful

Next In Aseanplus News

Grim milestone for Indonesia as coronavirus cases pass 1 million mark
Asean news headlines as at 6pm on Tuesday (Jan 26)
Thailand sees biggest daily spike in Covid-19 cases, mostly via active testing
Brunei to mark National Day in the new normal
Vietnam firms told to be ready for legal challenges when exporting to US
Asean economic progress tops agenda of senior officials
Indonesia says new sovereign wealth fund attracts USD10b commitment
Philippines confirms local transmission of British coronavirus variant
Bangkok Airways to start flying to Trat, Sukhothai from Feb 1
Singapore woman who claimed to be 'sovereign' to face another charge

Stories You'll Enjoy


-->