China’s foreign debt rises to over $ 697 b

Thursday, 29 December 2011 00:57 - - {{hitsCtrl.values.hits}}

China’s foreign debt increased to $ 697.16 billion at the end of September, up from $ 548.9 billion last year, the country’s foreign-exchange regulator said on Tuesday.

Short-term debt hit $ 507. 63 billion, 72.81 per cent of the country’s total foreign debt, while mid and long-term debt amounted to $ 189.54 billion, according to the State Administration of Foreign Exchange.

As per Xinhua news agency, officials say that the debt is manageable as China is sitting on the world’s largest foreign reserves of $ 3.20 trillion.