BEIJING — China’s outstanding external debt saw slower growth by the end of March with improved structure of currencies, the State Administration of Foreign Exchange (SAFE) said on June 28.

The volume stood at $1.97 trillion by March, up 0.3 percent or $6.5 billion from the end of 2018, the SAFE said.

China saw steady growth in overseas investors’ demand for domestic renminbi bonds, said SAFE spokesperson Wang Chunying.

Renminbi external debt mainly contributed to the increase in external debt in the first quarter, of which the proportion to the total outstanding external debt climbed by 0.8 percentage points from 2018.

The balance of debt securities in the first quarter increased 4.3 percent from the end of 2018, accounting for 22.6 percent of the total outstanding external debt, SAFE said.