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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 is expected to cut 2.3 trillion yuan (0 million) in taxes and fees in 2019, Securities Daily reported on Tuesday.

China is an important market not only for Vietnam but also for the Association of Southeast Asian Nations, or ASEAN, in general.

China is leading the world in hybrid cloud adoption and it is expected to rapidly extend its leadership in the coming years, according to a new report released by Nutanix Inc. [Photo/IC]

China imported a record 112.65 million metric tons of iron ore in July, up 24 percent on a yearly basis, said CNBC.