China’s foreign debt reaches $184 billion
According to latest reports, the total foreign debt of China amounted to $184.1 billion in the first nine months of 2003. This figure is $15.55 billion higher than the same period of 2002. China's officials has started to announce the statistics regarding foreign debts in quarters for the first time. According to the announcement made by the State Exchange Agency, China has borrowed $58.56 billion in the first nine months of 2003 from foreign invested financial organizations in the country while $55.24 billion of principal and interest payments have been done. Chinese administration do not limit the amount of foreign debts that were taken from foreign invested financial organizations, however they follow the borrowing process with detailed arrangements.