China's foreign debt reached $373.62 billion at the end of 2007, up 15.68 percent over the previous year, the State Administration of Foreign Exchange (SAFE) announced on Wednesday.

China's medium and long-term borrowing totaled $153.53 billion at the end of last year, an increase of $14.17 billion, or 10.17 percent, according to the SAFE.

Meanwhile, the country's short-term borrowing increased $36.46 billion to $220.08 billion, up 19.85 percent.

Of the total external debt, $34.89 billion was the sovereign debt; foreign invested enterprises accounted for $74 billion; and the amount for foreign financial institutions in China was $46.31 billion.

Preliminary statistics showed all of China's foreign debt indices were under the international standard safety line in 2007, the SAFE said.