Beijing (CNS) – By the end of September 2011, China's outstanding external debt (excluding that of Hong Kong, Macao, and Taiwan) had reached USD 697.164 billion. The outstanding short-term external debt was USD 507.625 billion, accounting for 72.81 percent of the total. The balance of trade credit came to USD 374.996 billion. All figures were confirmed by the State Administration of Foreign Exchange on December 27.
"The rise of outstanding short-term external debt does not imperil healthy reserve, said an unnamed source in the administration, adding that the increase in China's external debt is matched by higher activity in foreign trade.
The burden rate of China's total outstanding external debt was 9.9 percent in June, while the country's foreign exchange reserve balance is 6.9 times the external debt, explained an unnamed analyst at Dagong Global Credit Rating Co.,Ltd, adding that China is one of the countries that enjoys high reserve safety levels.
