Foreign debt should refer to foreign debt. For example, at present, China holds hundreds of billions of national debt of the United States, so the United States is a debtor country.
The specific form of foreign debt is that the government borrows money from abroad. For example, during the Qing government, the Qing government increased foreign debts on a large scale. Shao Youlian, the governor of Taiwan Province, Fujian Province, first borrowed 502,000 foreign businessmen to organize coastal defense. Before the outbreak of the Revolution of 1911, the total railway loans borrowed by the Qing government from imperialist powers reached 330 million yuan, accounting for 27.4% of the total foreign debts borrowed.
Foreign exchange reserve: also known as foreign exchange reserve, refers to foreign exchange assets held by central banks and other government agencies to meet the needs of international payment.
At present, most of China's nearly 2 trillion foreign exchange reserves are invested in US Treasury bonds. The commentary said that there is no choice, because it is difficult to find such a large and relatively safe investment channel with such good liquidity in the world.
The specific forms of foreign exchange reserves include: short-term government deposits abroad or other means of payment that can be cashed abroad, such as foreign securities, checks, promissory notes, foreign currency drafts of foreign banks, etc. It is mainly used to pay off the balance of payments deficit, intervene in the foreign exchange market and maintain the exchange rate of the domestic currency.