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Although there was an 87 percent growth in debt balance that the local governments have committed to repay with public funds, and some counties and the western region with comparatively smaller debt balances in previous years saw their debt balances more than doubled, the average government debt ratio (the debt balance to be repaid with public funds by government divided by the comprehensive financial resources of the same government) in these regions reached 70 percent.

Yang Jing, state councilor and secretary-general of the State Council, opened the ceremony.

"The Belt and Road Initiative will further highlight China's constructive role within the SCO," he said.

BEIJING, July 1 (Xinhua) -- Communism was called a haunting ghost more than a century and a half ago, and few believed the Communist Party of China (CPC) could survive when it was founded in 1921. Now, the world is watching the largest ruling party in the world march toward its first centenary goal.

Speaking to reporters after the SCO annual summit on Friday, Chinese Assistant Foreign Minister Li Huilai said the fruitful results of the summit will help SCO member states to address threats and challenges, and are important for them to achieve development and revitalization.