China raises 2014 short term foreign debt quota to $43.39bn

BEIJING: China has set a quota for the total amount of short-term foreign debt that banks and companies can borrow in 2014 at $43.39 billion, the nation's foreign exchange regulator said on Tuesday.

The State Administration of Foreign Exchange (SAFE) did not give a comparative figure, though it has previously said the quota was $37.3 billion in 2013.

Of the total, the quota for selected Chinese banks will be $13.9 billion while that for qualified foreign banks operating in China will be $16.54 billion.