China expects stable increase in foreign debt

BEIJING - China's forex regulator said Friday that the country's foreign debt may continue to increase after expanding for four consecutive quarters.

China's outstanding foreign debts totaled $1.4 trillion at the end of March, up 1.2 percent from that at the end of 2016, the State Administration of Foreign Exchange (SAFE) said.

The majority of China's foreign debt, 64 percent of the total, resulted from short-term borrowing, while long-term and medium-term borrowing accounted for the remaining 36 percent of outstanding foreign debt, the SAFE data showed.

The SAFE said the increase in China's outstanding foreign debt was due to companies' deleveraging processes drawing to an end while the government improved measures to facilitate borrowing overseas.

It said the country will continue efforts to facilitate companies' overseas financing, while intensifying supervision to stem risks and safeguard the country's financial security.