- CNTV English - CCTV News

China's fiscal condition stable, repayment ability strong

08-16-2011 08:11 BJT

Watch Video

Play Video

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

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program