BEIJING (Reuters) - China’s government debt is not so high, and Beijing will continue to allow local governments to swap debt, Finance Minister Lou Jiwei said in Beijing on Monday.
A total of 5 trillion yuan ($767.71 billion) of local government debt will come due this year, while the outstanding amount of such debt stood at 16 trillion yuan at the end of last year, Lou said at a news conference in Beijing.
Lou added that he believes the risk of local government debt is under control.
Reporting By Xiaoyi Shao and Beijing Monitoring Desk
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