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China estimates direct govn't debt at 20.7 trl yuan

English.news.cn   2013-12-30 16:48:04            

BEIJING, Dec. 30 (Xinhua) -- The National Audit Office (NAO) said Monday in a statement that governments at various levels in China were liable for a total direct debt of 20.7 trillion yuan (3.4 trillion U.S. dollars) by the end of June, 2013.

Total debt guaranteed by governments at various levels amounted to 2.93 trillion yuan (479.7 billion U.S. dollars) at the end of June, NAO said in the statement posted on its website.


Xinhua Insight: China contains local government debt

BEIJING, Dec. 16 (Xinhua) - Chinese leaders have made cleaning up government debt a crucial task for next year, threatening to tighten fiscal discipline to defend financial stability.

Resolving risk associated with local government debt was a main theme of the Central Economic Work Conference that ended last Friday. The conference traditionally sets the tone for following year's economic policy. Full story

Multiple reform plans to tackle government debt

BEIJING, Nov. 20 (Xinhua) -- A set of reform plans in the latest sweeping reform package rolled out by the Communist Party of China (CPC) last week will ease and effectively control local government's debt risks, an official said on Wednesday.

Yang Weimin, vice head of the office of the central economic and financial leading group, said at a briefing held by the State Council Information Office (SCIO) that the document released after the Third Plenary Session of the 18th CPC Central Committee will unleash "unprecedented" power.  Full story

Xinhua Insight: China vows policy continuity, efforts to address debt and overcapacity

BEIJING, Dec. 13 (Xinhua) -- China on Friday pledged to maintain continuous and stable economic policy while pushing forward reforms to achieve "reasonable growth" in 2014 as an annual tone-setting economic conference concluded.

A statement issued after the four-day Central Economic Work Conference said the country will continue to implement proactive fiscal and prudent monetary policies.  Full story

Editor: Zhu Ningzhu
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