Minister says debt risks controllable
China’s Vice-Minister of Finance Zhu Guangyao said onMonday that China’s debt calculations were open and transparent and risks remained controllable. Speaking at a meeting in Beijing, Zhu referred to figures from the InternationalMonetary Fund and theNational Institution for Finance & Development, a domestic think tank. “The IMF estimated China’s nonfinancial debts at 153.4 trillion yuan ($22.7 trillion) in 2015, accounting for 220.4 percent of GDP, while the NFID’s was 154.3 trillion yuan, or 227.92 percent of GDP,” Zhu said. “The two figures were almost the same, and the difference stemmed from statistical methods,” he added.