Finance ministry focuses on local government debt
By Wei Tian and Gao Changxin | China Daily | Updated: 2011-07-28 07:40
BEIJING / SHANGHAI -The Ministry of Finance has vowed to strengthen the management and monitoring of local government debt, and a mechanism for debt financing is under consideration to help prevent a potential default.
The ministry identified management of the debt as one of its priorities for the remainder of 2011, according to a statement on its website.
Economists said that better monitoring of the debt shows the government's determination to supervise and handle it.
Photo
