March 07 02:25
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- China’s Government Debt to GDP Ratio at 36.7% at End 2016: Finance Minister
Total debt held by China’s central and local governments amounted to 27.33 trillion yuan ($4.0 trillion) at the end of last year, or 36.7% of the country’s gross domestic product (GDP), Finance Minister Xiao Jie said today at a press conference on the sidelines of the ongoing National People’s Congress, China’s legislature.
“We forecast the debt-to-GDP ratio will not have big changes by the end of this year,” he said. “Compared with international levels, the Chinese government still has room to borrow more.”