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  • Beijing Review

    In Good Debt

    Jan 21, 2021 3 minutes
    By Li Xiaoyang

    China’s outstanding foreign debt was more than $2.29 trillion at the end of the third quarter of 2020, up 7.6 percent from the end of the second quarter, according to the State Administration of Foreign Exchange (SAFE).

    Foreign debt covers the amount of a country’s total borrowing from external sources, including commercial banks, governments and international financial institutions. SAFE spokesperson Wang Chunying said the quarteron-quarter increase in foreign debt was the result of China’s accelerated opening-up efforts and steady economic recovery, with international investors continuing to increase holdings of Chinese

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