Highlights of news conference of the Ministry of Finance
chinadaily.com.cn |
Updated: 2019-03-07 09:24
Share
Share - WeChat
Risk with Chinese debt under control: Liu Kun
Risk associated with Chinese government debt is under control, said Minister of Finance, Liu Kun.
China's government debt stood at 33.35 trillion yuan ($4.97 trillion) by the end of 2018, 37 percent of the country's GDP, significantly lower than the EU warning line of 60 percent, Liu said.
The ratio was also lower than both major market and emerging economies.
"As for implicit government debt, we have taken stringent measures to avoid new implicit debt from taking place," Liu said, adding that progress has been made resolving risk with existing implicit debt.
- Health Bureau: Free Chinese medicine services for Tai Po fire victims
- Satellite launch marks a new milestone in UAE-China cooperation
- HK fire: 4,510 residents in shelters as support fund reaches HK$3.6b
- Scholars, industry insiders call for a responsible, scientific, credible think tank research system
- Remains of former Chinese leader Wang Bingqian cremated
- Buddhist body urges followers not to release lifeless items into the natural environment
