China’s Foreign Debt Posts 4th Quarterly Gain in Row: SAFE: MNI

BEIJING (MNI) – China’s collective debt and other financial obligations owed to foreign sources rose for the fourth consecutive quarter, even as the domestic economy and cross-border capital flows improved, a unit of the People’s Bank of China.

China’s so-called comprehensive foreign debt stood at USD1.44 trillion at the end of March, a gain of 1.2% from the end of December, the State Administration of Foreign Exchange said on its website on Friday.

Reforms in foreign exchange management and the streamlining of capital flow measures helped boost China’s foreign financial obligations, SAFE said.

The PBOC and SAFE will continue to “enhance the regulatory systems of foreign debt and capital flows under the macro-prudential regulatory framework,” the agency said.

About 24% of the total IOUs were loans, while trade obligations and advanced payments accounted for 19%, SAFE said. About 32% were issued in yuan, SAFE said.

–MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
–MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com

Source: MNI : FRIDAY, JUNE 30, 2017 – 04:06

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