China's outstanding foreign debts by the end of last March totaled 202.321 billion US dollars (excluding that of Taiwan, Hong Kong and Macao), up 8.687 billion US dollars over the end of last year, or up 4.49 percent, latest official figures show.

According to the figures released Tuesday by the State Administration of Foreign Exchange, China's outstanding long- and medium-term foreign debt reached 120.062 billion US dollars, or 59.34 percent of the country's overall foreign debt, up 3.472 billion US dollars over the end of last year.

The outstanding short-term foreign debt stood at 82.259 billion US dollars, an increase of 5.215 billion US dollars over the end of last year. The figure represents 40.66 percent of the country's total foreign debt.

A leading official of the administration, who declined to be named, said fast economic and foreign trade growth has been the major cause for China's increasing foreign debt.

The official said the big positive discrepancy between the interest rates of the Chinese currency and overseas is another factor that can not be ignored for the debt growth.

The expectation for a stronger Renminbi, the Chinese currency, is still there, said the official.

During the first three months of this year, China borrowed 24.374 billion US dollars worth of new foreign debt, excluding trade credit, and paid 19.218 billion US dollars worth of capital and 362 million US dollars worth of interest.

Editor: Donald