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CN MOF: Central Govt Still Has Large Room to Raise Debt by Actively Utilizing Available Deficit Space
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In comparison internationally, the Chinese government's debt ratio is significantly lower than those of major economies and emerging market countries, said Lan Fo'an, China's Finance Minister, at the press conference of the 12th meeting of the Standing Committee of the 14th National People's Congress. The use of the debt shows that central and local government debts have formed a large amount of effective assets. Local government debt is mainly used for capital expenditures, supporting the construction of numerous projects in transportation, water conservancy, energy, and more. Many assets are generating continuous returns, signaling that the central government still has large room to raise debt. Lan also noted that the Ministry of Finance (MOF) is currently actively planning the next steps in fiscal policy to ramp up counter-cyclical adjustments. It will actively utilize the available deficit space, while expanding the issuance scale of special bonds to broaden the investment areas and lift the proportion used as capital. AAStocks Financial News |
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