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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 imposed five-year anti-dumping tariffs on Indian and Japanese imports on Nov 21, 2013. At the application of domestic producers, the MOC launched reinvestigation of the duties on Nov 21 last year to see whether harm on the local industry would continue should the duties be scrapped.

China is creating more urban jobs for migrant workers and stimulating the development of rural industries to boost the employment of migrant workers, whose job prospects were dimmed by the COVID-19 epidemic.

China is home to more than 220 million people over the age of 60, or 16.1 percent of the population, and the numbers are growing.

China has set a target for new energy vehicles, which consist of electric cars, plug-in hybrids and fuel cell vehicles, to account for a fifth of auto sales by 2025, compared with the current 5 percent.