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International

China's local gov debt ratio will not show big change by end-2016: finance ministry

Published Fri, Nov 4, 2016 · 02:40 AM
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[BEIJING] China's local government debt ratio will not show big changes by the end of 2016 compared with the previous year, the finance ministry said on Friday.

The economy and local government fiscal revenues will maintain a medium to high growth rate, providing fundamental support for curbing local debt risks, the ministry said in a statement on its website.

China will strictly prevent local government from conducting illegal financing and guarantees, it added.

REUTERS

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