China's external debt stood at $863 billion as of the end of 2013, the State Administration of Foreign Exchange said Monday, a 17% rise on a year earlier.That equates to 9.4% of GDP or 36% of export income, the agency said. Short-term debt, defined as debt with a term of one year or less, makes up 78% of the total.
The more important figure is the ratio of short-term external debt to foreign exchange reserves, which currently stands at a comfortable 17.7%, Mr. Guo said.
China's short-term debt is mainly a reflection of trade activities, limiting the potential for financial risks.
The more important figure is the ratio of short-term external debt to foreign exchange reserves, which currently stands at a comfortable 17.7%, Mr. Guo said.
China's short-term debt is mainly a reflection of trade activities, limiting the potential for financial risks.