China’s external debt increased by $ 16.7 billion in the third quarter of 2021, partly due to increased bond purchases in yuan by foreign investors, according to Bloomberg.
About 47% of China’s outstanding debt of 2.7 trillion. At the end of September, medium-term and long-term liabilities rose by three percentage points from the end of June, said Wang Chunying, deputy director and spokesman for the State Exchange Administration, in a statement released Friday.
The increased shares of offshore investors in onshore bonds reflect China’s successful opening up of its financial markets and their confidence in the country’s economic prospects, Wang was quoted as saying.
The authority will continue to monitor closely the scale and structure of China’s external debt and guard against the risks of cross-border capital flows, Wang said, citing challenges from the global pandemic and expected monetary policy changes from some developed countries. economies.
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Source From: Capital
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