FINANCIAL STREET(SZ:000402) Xin Hua Cai Jing·2025-12-31 12:38Group 1 - The total external debt of China as of September 2025 is 168,287 billion RMB (equivalent to 23,684 billion USD), excluding external liabilities from Hong Kong, Macau, and Taiwan [1] - The structure of external debt shows that medium to long-term debt accounts for 42% (71,511 billion RMB or 10,064 billion USD), while short-term debt accounts for 58% (96,776 billion RMB or 13,620 billion USD) [1] - Among short-term external debt, trade-related credit constitutes 36% [1] Group 2 - The breakdown of external debt by institutional sector indicates that broad government debt is 28,563 billion RMB (4,020 billion USD), accounting for 17%; central bank debt is 7,454 billion RMB (1,049 billion USD), accounting for 4%; bank debt is 69,198 billion RMB (9,739 billion USD), accounting for 41%; and other sectors (including inter-company loans) account for 38% with 63,072 billion RMB (8,876 billion USD) [1] - In terms of debt instruments, loans amount to 21,934 billion RMB (3,087 billion USD), trade credit and prepayments total 28,443 billion RMB (4,003 billion USD), currency and deposits are 33,526 billion RMB (4,719 billion USD), debt securities are 55,417 billion RMB (7,799 billion USD), and other debt liabilities total 8,641 billion RMB (1,216 billion USD) [2] - The currency structure shows that domestic currency debt is 87,394 billion RMB (12,299 billion USD), accounting for 52%, while foreign currency debt (including SDR allocation) is 80,893 billion RMB (11,385 billion USD), accounting for 48% [2] Group 3 - The major indicators of China's external debt remain within internationally recognized safety lines, indicating that the overall risk of external debt is manageable [2]