Min­is­ter says debt risks con­trol­lable

China Daily (USA) - - BUSINESS -

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.

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