FINANCIAL STREET(SZ:000402) Xin Hua Cai Jing·2025-09-30 09:46Core Insights - As of June 30, 2025, China's total external debt (including both domestic and foreign currency) stands at 17.44 trillion RMB (approximately 2.44 trillion USD), showing a slight decrease of 0.6% from March 2025 [3] - The structure of external debt has shown marginal improvement, with long-term debt accounting for 42% and short-term debt for 58% [3] Debt Structure - Long-term external debt amounts to 740.09 billion RMB (approximately 103.39 billion USD), representing 42% of the total [1] - Short-term external debt totals 1,004.28 billion RMB (approximately 140.29 billion USD), with trade-related credit making up 34% of this amount [1] - Government external debt is 301.66 billion RMB (approximately 42.14 billion USD), accounting for 17% [1] - Bank external debt is 751.26 billion RMB (approximately 104.95 billion USD), making up 43% [1] - Other sectors' external debt, including inter-company loans, is 626.24 billion RMB (approximately 87.48 billion USD), which is 36% [1] Debt Instruments - Loans constitute 23.12 billion RMB (approximately 3.23 billion USD), or 13% of the total external debt [2] - Trade credit and prepayments amount to 27.35 billion RMB (approximately 3.82 billion USD), representing 16% [2] - Currency and deposits total 33.99 billion RMB (approximately 4.75 billion USD), accounting for 19% [2] - Debt securities are valued at 60.88 billion RMB (approximately 8.50 billion USD), making up 35% [2] - Special Drawing Rights (SDR) allocation is 35.61 billion RMB (approximately 4.97 billion USD), or 2% [2] Currency Structure - Domestic currency external debt is 90.80 billion RMB (approximately 12.68 billion USD), representing 52% of the total [2] - Foreign currency external debt (including SDR allocation) is 83.64 billion RMB (approximately 11.68 billion USD), accounting for 48% [2] - Among foreign currency debts, USD debt constitutes 79%, Euro debt 8%, and JPY debt 4% [2]