China鈥檚 debt balance drops in Q1
Print Edition
THE balance of China’s central government debt stood at nearly 10.7 trillion yuan (US$1.6 trillion) at the end of the first quarter, data from the Ministry of Finance showed yesterday.
The figure was down by 6.7 billion yuan from that at the end of 2015.
Of the debt, only 113.2 billion yuan was foreign debt, the ministry said in a statement.
China’s government debt, which also includes local government debt, represented 41.5 percent of China’s GDP at the end of 2015, below the European Union’s warning line of 60 percent and major market economies such as Japan and the United States.
The ministry said last month that there is still room for China to raise its debt level by moderately scaling up insurance of treasury bonds and local government bonds, which will help cushion the impact of shrinking social credit on economic growth.
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