Chinese foreign debt rises to USD 427 billion through June

According to the China¡¯s State Administration of Foreign Exchange, China's outstanding foreign debt was at USD 427.43 billion through June up by 14.4% than the second half of 2007. The figure excluded the foreign debt of Hong Kong, Macao and Taiwan.

The administration added that of the total, medium and long term foreign debt stood at USD 162.07 billion up by 5.56% from the end of 2007.Short term debt was at USD 265.37 billion an increase of 20.57%.

China newly borrowed USD 19.51 billion of medium and long term foreign debt in the first half up 26.91% from the same period last year. The nation paid back USD 8.77 billion of principal on medium and long term debt in the first six months down by 20.28% from a year earlier. In addition, it paid back USD 1.92 billion in interest on medium and long term debt up by 10.23% YoY.

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