(Hong Kong Comprehensive News) Zhang Qingsong, deputy governor of the People's Bank of China, said that China has introduced a package of debt plans to deal with short -term issues and also builds a long -term system. As the policy landed, local debt risks will converge.
According to the Securities Daily, Zhang Qingsong said at the International Financial Leadership Summit on Tuesday (November 7) in Hong Kong that the level of Chinese government debt is at the lower level of the midstream.
International Clearance Bank data shows that as of the first quarter of this year, the Chinese government's debt leverage rate was 79.4%, which was lower than many developed economies.
Zhang Qingsong said that the central government's debt burden is light, and the problem of local debt is mainly structural issues. Large -scale debt is concentrated in the central and eastern provinces.Government responsibility resolves risks by itself. "
He said that a few areas are facing debt repayment pressure, but most of the debt corresponds to form physical assets, and the state has also formulated a package of marketization and legalized solution.Effect system, "I believe that with the implementation of the government's policy, local debt risks will gradually converge."
The Chinese government announced the addition of special government bonds last month, and issued a new local government debt limit in advance in advance, intending to boost the economy through fiscal policy and reduce local pressure.
When it comes to real estate, Zhang Qingsong said that the real estate market cannot continue to grow, and it is normal to adjust. At present, it is to prevent the risk of preventing and adjusting the property market.
He said that 10 million rural residents in China moved to cities each year to settle in cities. The rigid demand for housing is still there, and the demand for improving housing is still large.
Zhang Qingsong said that the Chinese government will steadily do the three major tasks, including promoting public infrastructure in super -large cities to promote the flat use of public infrastructure, promote the reconstruction of villages in the city and the construction of affordable housing to promote the healthier property market.
He pointed out that China's economic tradition is losing power, and it is difficult to continue to rely on infrastructure investment and the development model of real estate industry, so it is necessary to change the development mode.
