China's Foreign Debt Down Slightly

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Last updated at: (Beijing Time) Thursday, April 17, 2003

China's Foreign Debt Down Slightly

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By the end of 2002, China's outstanding foreign debt stood at the equivalent of 168.538 billion US dollars, decreasing 1.572 billion dollars or 0.92 percent from the previous year, according to statistics released Thursday by the State Administration of Foreign Exchange.

Of the total, medium and long-term debt accounted for 68.57 percent or 115.562 billion dollars, decreasing 3.968 billion dollars from the end of the previous year, and short-term debt accounted for 31.43 percent or 52.976 billion dollars, increasing 2.396 billion dollars.

The outstanding amount of registered foreign debt was 142.215 billion dollars, while that of trade credit was 26.323 billion dollars.

Calculated on China's foreign exchange income of 365.395 billion dollars in 2002, the debt-service ratio was 7.89 percent, the debt ratio was 46.12 percent, the rate of debts was 13.62 percent, and the ratio of short-term debt to foreign exchange reserves was 18.5 percent. All these foreign debt indices are within the internationally-recognized safety line.

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