China's outstanding external debt drops in Q2
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E-mail Xinhua, September 29, 2023
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China's outstanding external debt totaled 2.43 trillion U.S. dollars at the end of June, data from the country's forex regulator showed on Thursday.
The figure represents a drop of 2 percent, or 57.1 billion U.S. dollars, from the level recorded at the end of March, said Wang Chunying, deputy head of the State Administration of Foreign Exchange.
Exchange rates are the main reasons behind the drop, she said, noting that exchange rate factors led to a drop of 54.5 billion U.S. dollars in external debt in the second quarter of the year.
The scale of China's external debt will remain stable as the country's long-term growth fundamentals remain unchanged, and the domestic economy will continue to recover and improve, she said.
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