Latest News:  
Beijing   Cloudy    2 / -5   City Forecast

People's Daily Online>>China Business

Risks of nation's external debt are limited, SAFE official says

By Li Xiang (China Daily)

10:09, December 16, 2011

BEIJING - The overall risk of China's external debt is limited, but regulators should be alert to the country's rapidly rising short-term external debt, a senior official at the State Administration of Foreign Exchange (SAFE) said on Thursday.

Outstanding external debt has reached $642.5 billion, up $253.3 billion from 2007, before the global financial crisis, according to Li Chao, deputy head of the SAFE.

As the eurozone sovereign debt crisis has worsened, speculation has grown that China might also face fiscal problems and its external debt might have a negative impact on the economy.

But Li said that the current structure of China's external debt remains sound and the overall risk is well under control, given the nation's $3.2 trillion in foreign exchange reserves.

Li said that China should pay special attention to its surging short-term external debt, which accounts for 72 percent of its total external debt.

【1】 【2】

We Recommend


Leave your comment0 comments

  1. Name


Selections for you

  1. Nearly 9 years on, US withdraws from Iraq

  2. 1st twin giraffes celebrate birthday

  3. Scuba divers welcome bowmouth guitarfish at aquarium in Hungary

  4. Consumers throng to shops for coming Christmas in Rio

Most Popular


  1. Risks behind India's military buildup
  2. 2011: Year of government micro-blogs
  3. Chance of RMB devaluation small
  4. Narrow vision limits China's discourse power
  5. Dubai chasing Singapore's strictness with violations
  6. Too early to loosen China's property controls
  7. Do not let disputes taint Sino-Korean ties
  8. The natural way to pick your stocks
  9. China must retain its strengths as it goes global
  10. Canada's short-sighted move should be denounced

What's happening in China

2nd Airbus A380 arrives in Beijing

  1. Property prices in big cities declining
  2. More Chinese cities see housing price decline
  3. Drought snags shipping on rivers in S China
  4. Gas explosion kills 9 in central China coal mine
  5. Beijing reaches annual "blue sky days" target

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance