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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 an important cooperation partner of Italy, he said, noting that he believes President Xi's visit will lift bilateral relations to a higher level.
China is shaping up to be an emerging force in the global private equity scene. The country was home to 14,309 private equity and venture capital firms by the end of June.
China is Chile's main trade partner, accounting for 33.5 percent of exports in 2018 and 23.6 percent of imports, according to the UN Comtrade database.
China has vowed to beef up the construction of a cybersecurity system－where government, enterprises and industry associations will strengthen their cooperation and laws and regulations related to cybersecurity will be improved－the top industry regulator said on Tuesday.
来源：资阳报