China reforms will help ease local government debt burdens: official

Reuters
China's President Xi Jinping stands next to a Chinese national flag in Beijing
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China's President Xi Jinping stands next to a Chinese national flag during a welcoming ceremony at the …

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)

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