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China is fully confident in fending off systemic debt risks and expects no apparent changes in government debt ratio in the coming years, Finance Minister Xiao Jie said on Wednesday.The country's debt-to-GDP ratio has decreased to 36.2 percent in 2017, down from 36.7 percent in 2016, far below the so-called alert line of 60 percent internationally, said Xiao at a press conference.He added that the government's outstanding debt has reached 29.95 trillion yuan (.7 trillion) by the end of 2017."China has formed a closed-loop system on managing local government debt including setting reasonably debt quotas, bolstering budget and risk management as well as controlling emergencies," he added."China will deal with illegal debt firmly as issuing bond is the only legal way for local government to raise fund," Xiao said.
China in February launched a project to offer inclusive elderly care, with the central budget allocating 1.4 billion yuan (0 million) to boost the number of nursing beds for the elderly by 70,000, which stimulates both investment and consumption.
China hopes Germany and the EU will avoid sending confusing and negative signals when introducing new regulations after Germany tightened foreign takeover rules in key sectors, a Foreign Ministry spokesman said on Friday.
China is one of the most important markets for Airbnb, and the company will continue to develop the nation's market, providing better services and products for Chinese consumers, as well as speeding up localization efforts here, said Chris Lehane, head of global policy and public affairs of Airbnb.
China highly values tourism, which has contributed over 10 percent of its national economy and employment, according to Xi.