China’s local government debt is at a controllable level although risks are increasing in some areas and projects due to a lack of transparency, a finance ministry official at a think tank was quoted as saying by the official People’s Daily.
Jia Kang, head of the Research Institute of Fiscal Science, said in comments published on Monday that the overall debt of China’s public sector accounts for about 50 percent of the country’s GDP, within a safe level.
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Xiaoyi Shao and Jonathan Standing, Reuters via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/8DK6lfNtSAA/
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