August 28, 2018 / 7:01 AM / 3 months ago

China finance minister says will control local govt debt risks -Xinhua

BEIJING, Aug 28 (Reuters) - China will strengthen its management of local government debt and control debt risks, the finance minister said on Tuesday, according to Xinhua News Agency.

China will curb the rise in hidden debt and appropriately resolve outstanding hidden debt, Xinhua quoted the minister as saying. China also plans to improve the management of local construction projects by limiting projects that will have difficulty in repaying loans, the minister said.

The country will continue to push forward outstanding government debt swaps to ease repayment pressure on local government, the minister said, according to Xinhua. (Reporting by Beijing Monitoring Desk; Editing by Sai Sachin Ravikumar)

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