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China's local government debt soared during an investment and construction binge following the global financial crisis in 2008. Well aware of the risks, authorities have rolled out a string of measures to reduce the local debt burden.
China's newly revised Budget Law clearly stipulates that local government debt should be publicly issued through a national quota-based mechanism, and various local financing platforms backed by the local authority should not issue local government debt.
China's financial sector opening-up has sped up.
China's growth in the first quarter was stronger than expected, and the growth momentum increased in March. Another positive factor to support the projection at 6.2 percent for this year is the government's strong fiscal stimulus package, according to John Litwack, the World Bank's lead economist for China.
China's exports to these countries and regions rose by 15.8 percent from a year earlier, and imports grew by 42.9 percent, Sun told a news conference.
来源：资阳报