China declares foreign and domestic debts

The State Administration of Foreign Exchange (SAFE) declared on December 30 the latest data of China's foreign debts. By the end of September this year, China registered 223.273 billion USD of the balance of its foreign debts (excluding those for Hong Kong, Macao and Taiwan). This is 29.639 billion USD more than the end of last year or an increase of 15.31 percent.

55.37 percent of the total is medium and long-term foreign debts which value 123.619 billion USD. It means 7.029 billion USD has been added following the end of last year. The remaining 44.63 percent short term debts posts 99.654 billion USD which is a rise of 22.610 billion USD more than the end of last year.

Sources from the SAFE noted that compared with the end of June this year, the stark inflation of China's foreign debts, short-term debts in particular, was curbed. This is reflected by shrinking debts held by foreign funded banks.

By the end of September this year, foreign banks running in the Chinese mainland had reported 33.107 billion USD worth of foreign debts which was 4.551 billion USD less than that by the end of June or a decline of 12 percent.

The same day the Ministry of Finance pronounced a "perfect completion" of China's treasury bonds issuance for 2004. As a result, 687.6 billion yuan has been funded this year.

By People's Daily Online