国家外汇管理局：截至9月末，我国全口径外债余额为168287亿元人民币

Core Insights - As of September 2025, China's total external debt (including both domestic and foreign currencies) amounts to 168,287 billion RMB (approximately 23,684 billion USD), excluding external debts from Hong Kong, Macau, and Taiwan [1][3] Debt Structure - The long-term external debt stands at 71,511 billion RMB (approximately 10,064 billion USD), accounting for 42% of the total; short-term external debt is 96,776 billion RMB (approximately 13,620 billion USD), making up 58% [1][3] - Among short-term external debts, trade-related credit constitutes 36% [1] Institutional Breakdown - The broad government external debt is 28,563 billion RMB (approximately 4,020 billion USD), representing 17% of the total; central bank external debt is 7,454 billion RMB (approximately 1,049 billion USD), accounting for 4% [1][3] - Bank external debt totals 69,198 billion RMB (approximately 9,739 billion USD), which is 41% of the total; other sectors (including inter-company loans) have an external debt of 63,072 billion RMB (approximately 8,876 billion USD), making up 38% [1][3] Debt Instruments - Loan balances are at 21,934 billion RMB (approximately 3,087 billion USD), which is 13% of the total; trade credit and prepayments amount to 28,443 billion RMB (approximately 4,003 billion USD), accounting for 17% [2][4] - Currency and deposits total 33,526 billion RMB (approximately 4,719 billion USD), representing 20%; debt securities are at 55,417 billion RMB (approximately 7,799 billion USD), making up 33% [2][4] - Special Drawing Rights (SDR) allocation is 3,527 billion RMB (approximately 496 billion USD), which is 2%; inter-company loan debt stands at 16,799 billion RMB (approximately 2,364 billion USD), accounting for 10% [2][4] - Other debt liabilities total 8,641 billion RMB (approximately 1,216 billion USD), representing 5% [2][4] Currency Composition - Domestic currency external debt is 87,394 billion RMB (approximately 12,299 billion USD), which is 52%; foreign currency external debt (including SDR allocation) is 80,893 billion RMB (approximately 11,385 billion USD), accounting for 48% [2][4] - Within the foreign currency external debt, USD debt constitutes 78%, EUR debt is 9%, JPY debt is 4%, HKD debt is 5%, and SDR and other foreign currency debts together account for 4% [2][4] Risk Assessment - Key indicators of China's external debt remain within internationally recognized safety lines, indicating that the overall risk of external debt is manageable [2][4]