China reforms will help ease local government debt burdens: official

Wed Nov 20, 2013 2:37am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

BEIJING (Reuters) - China's upcoming reforms will help ease local government debt burdens, and the risks of local government debt are under control, a senior Communist Party official said on Wednesday.

Yang Weimin, vice head of the Office of the Central Leading Group on Finance and Economic Affairs also told a news briefing that the government is still working on detailed implementation plans for some reforms.

Last week, China's leaders unveiled a reform agenda for the next decade, pledging to let the market play a "decisive" role in the economy and outlining sweeping changes to unleash fresh growth drivers.

(Reporting By Kevin Yao)

China's President Xi Jinping stands next to a Chinese national flag during a welcoming ceremony at the Great Hall of the People, in Beijing, November 13, 2013. REUTERS/Jason Lee