China's outstanding debt has risen to $2.7 trillion by the end of September 2021, according to data released by the National Foreign Exchange Authority.
According to Arabiya Net, the authority stated that this figure is $16.7 billion higher, or 0.6%, than its counterpart recorded at the end of June.
The agency's deputy director and spokeswoman, Wang Chunying, said that the scale of China's external debt has generally maintained stability, and the external debt structure has improved during the third quarter, quoting the Chinese Xinhua News Agency, on Sunday.
The ratio of medium debt to long-term debt reached 47%, up 3 percentage points from the end of June, Wang said, stressing that the increase further enhanced the structural stability of external debt.
Wang added that foreign investors' increase in their holdings of yuan-denominated bonds reflects the achievements of China's bond market opening up and investors' confidence in China's economic prospects.
Wang warned that the international situation is expected to become complex and bleak, given the re-emergence of the COVID-19 pandemic and the gradual abandonment of monetary easing by some advanced economies.
Noting that despite external pressures, the foundations of China's long-term economic development will remain unchanged thanks to its strong economic resilience, Wang pledged that the country will pay close attention to changes in external debt and take concrete steps to fend off cross-border financial risks.
