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China's fiscal condition stable, repayment ability strong

08-16-2011 08:11 BJT

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China's fiscal deficit and debt credit is raising public concern as the debt crisis in the US and Europe wreaks major havoc on the global economy. The Finance Ministry has issued a statement declaring that China's overall fiscal condition is stable and has strong repayment ability.

The Vice Finance Minister, Li Yong, said in an interview that the country's deficit for 2010 was 2.5 percent of the GDP. That ratio was reduced to about 2 percent this year. And China's national debt is now less than 50 percent of the GDP.

The ratio is far lower than the international alert line of 60 percent. According to the data released by the International Monetary Fund this April, China's deficit and national debt ratios are both far lower than those of the US, Japan, and major European countries.

China's government debt within reasonable levels

The recent Eurozone and US debt issues prompted concerns over China's government debt, especially at local levels. Some experts say the country's public debt is still within reasonable levels. They also say the country is well positioned even if unfavorable scenarios take place. Full story >>

China's local debt risk is still in safe range

China's National Audit Office recently released local debt audit results that fully reveal the liability situation of various local governments above the county level since 1979, involving a total of nearly 1.9 million in specific debt. This is the most authoritative and comprehensive information on the actual liability situation of China's local governments. Full story >>

 

 

Editor:Zhang Dan |Source: CNTV.CN

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