BEIJING - China's total foreign debt rose 2.5 per cent in 2014 to $895.5 billion (S$1.214 trillion), but debt repayment risks were under control, the country's foreign exchange regulator said on Tuesday.
China's total foreign debt in 2014 was equivalent to 8.64 per cent of gross domestic product, while its short-term debt was equivalent to 17.78 per cent of the country's foreign exchange reserves, the State Administration of Foreign Exchange said.
Those debt ratios were within the internationally accepted safety levels, it added. "Our country's overall foreign debt risks are under control," it said in a statement on its website..
The medium- and long-term debt rose 7.5 per cent last year to $274.4 billion, accounting for 30.6 per cent of the total, the SAFE said.
The short-term foreign debt, which is considered riskier, edged up 0.4 per cent in 2014 to $621.1 billion, accounting for 69.4 per cent of the total, it said.