State Administration of Foreign Exchange: It is expected that China's external debt size will remain basically stable.

Recently, the State Administration of Foreign Exchange announced the China's external debt data as of the end of March 2025. Li Bin, Deputy Director of the State Administration of Foreign Exchange and spokesperson, stated that in the first quarter of 2025, China's external debt increased slightly, with the currency structure optimized and the maturity structure remaining relatively stable. As of the end of March 2025, China's total external debt balance (including foreign currencies) was 2.4514 trillion US dollars, an increase of 31.6 billion US dollars compared to the end of 2024, a growth rate of 1.3%. Various factors have pushed the scale of external debt to stabilize and rise. In the first quarter of 2025, influenced by profound and complex changes in the international situation and the continued improvement in domestic economic performance, foreign capital increased its allocation of yuan-denominated bond assets, leading to a stabilization and increase in the scale of external debt. It is expected that China's external debt scale will remain relatively stable.