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China is facing large challenges unprecedented in recent times given the grave situation of global disease prevention and the slowdown of the world economy, according to a key Party meeting on Friday.
China has set high goals for energy transformation, such as constructing a new generation of clean, low-carbon, safe and efficient energy systems, said Zhou Xiaoxin, a scholar with the Chinese Academy of Sciences and honorary president of the China Electric Power Research Institute.
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 is the only G20 country in which output is projected to rise in 2020, supported by its rapid control of the coronavirus outbreak and the policy support driving quick work and production resumption.
China is Covestro's biggest single market and Shanghai is home to its largest plant while housing its Asia-Pacific innovation center, said Lei.
来源：资阳报