China’s fiscal situation is sound, some local governments face high debt risks – state media
MACRO
China’s fiscal situation is sound, some local governments face high debt risks – state media
MACRO

China’s fiscal situation is sound, some local governments face high debt risks – state media

 

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China’s overall fiscal status is sound and safe, but some local governments are facing high debt risks and large pressure of debt repayment, state media Xinhua news agency reported on Monday, citing a finance ministry official.

“At present, local government debt is unevenly distributed, with some local governments seeing relatively high debt risks and large debt repayment pressure,” Xinhua said. 

“We have urged relevant local governments to take the responsibility… and hold the bottom-line of preventing systemic risks,” the report said, adding that China has left enough room to deal with risks and challenges.