China's external debt declines in third quarter

China's outstanding foreign debt stood at approximately US$2.48 trillion at the end of September, data from the country's forex regulator showed on Friday.

The balance was US$154.5 billion, or 6 percent, lower than it was at the end of June, according to the State Administration of Foreign Exchange.

The outstanding external debt in China's domestic currency accounted for 44 percent of the total, flat with the end of June, said Wang Chunying, deputy head of the administration.

The proportion of medium and long-term debt was 45 percent at the end of September, down 1 percentage point from the level recorded at the end of June, Wang said.

Despite the volatile external environment, China's economy is resilient, has great potential and is full of vitality, Wang said, and China has the conditions to keep its external debt stable and improve its structure.

The administration will continue to promote cross-border investment and financing facilitation to serve the high-quality development of the real economy, Wang said.