Ministry of Finance: China's Government Debt Ratio is Within a Reasonable Range, Risks are Safe and Controllable

Golden Finance reported that on September 12, Minister of Finance Lan Fo'an introduced at the State Council Information Office's press conference on the "High-Quality Completion of the 14th Five-Year Plan" series of themed briefings that by the end of 2024, China's total government debt on a full-caliber basis will amount to 92.6 trillion yuan, including 34.6 trillion yuan in national debt, 47.5 trillion yuan in statutory local government debt, and 10.5 trillion yuan in implicit local government debt, with a government debt ratio of 68.7%. At the same time, China's government debt corresponds to a large amount of high-quality assets. Overall, China's government debt ratio is within a reasonable range, and risks are safe and controllable. (Xinhua News Agency)