China's foreign debt up 15.68% in 2007

MNB

China's foreign debt reached $373.62 billion at the end of 2007, up 15.68% over the previous year, the State Administration of Foreign Exchange (SAFE) announced.

China's medium and long-term borrowing totaled $153.53 billion at the end of last year, an increase of $14.17 billion, or 10.17%, according to the SAFE.

Meanwhile, the country's short-term borrowing increased $36.46 billion to $220.08 billion, up 19.85%.

Of the total external debt, $34.89 billion was the sovereign debt; foreign invested enterprises accounted for $74 billion; and the amount for foreign financial institutions in China was $46.31 billion.

Preliminary statistics showed all of China's foreign debt indices were under the international standard safety line in 2007,the SAFE said. (Xinhua)

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