21 February 2020

China government debt manageable, yicai says

Premier Li Keqiang {李克強} said China’s government debt is at a safe and manageable level, news website reported Tuesday. However, Li said Beijing should strengthen audit and oversight of local government debt to mitigate risk to the financial system. China had a budget deficit equivalent to 2.1 percent of gross domestic product which is considered manageable, the report said. Li called for a more active role by auditors in ensuring fiscal stability and fighting corruption. He made the comments at the 21st congress of the International Organization of Supreme Audit Institutions in Beijing.

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