China foreign debt rises to US$427 bln through June

Written by changthai11 on Thursday, October 9th, 2008

BEIJING - China’s outstanding foreign debt was at US$427.43 billion through June, 14.4 percent higher than the second half of 2007, the State Administration of Foreign Exchange said on Tuesday.

The figure excluded the foreign debt of Hong Kong, Macao and Taiwan.

Of the total, medium- and long-term foreign debt stood at US$162.07 billion, up 5.56 percent from the end of 2007. Short-term debt was at US$265.37 billion, an increase of 20.57 percent.

China newly borrowed US$19.51 billion of medium- and long-term foreign debt in the first half, up 26.91 percent from the same period last year.

The nation paid back US$8.77 billion of principal on medium- and long-term debt in the first six months, down 20.28 percent from a year earlier.

In addition, it paid back US$1.92 billion in interest on medium- and long-term debt, up 10.23 percent year-on-year.