The Ministry of Finance responded to "whether to exchange central debt for local debt": it is necessary to carefully study, some countries have done it but the effect is not good

2021-12-16 17:54:00

On December 16, the Information Office of the State Council held a regular briefing on State Council policies, and Vice Minister of Finance Xu Hongcai introduced the situation of strengthening and improving the management of local government debt and answered reporters' questions. Xu Hongcai said that as for whether to replace local debts with central debts, I think this issue should be carefully studied and is not a simple matter. I know that some countries have done such things, the effect is not good, we do not have such an arrangement at present, that is, to resolutely prevent and resolve the risk of local government debt.

Source: CCTV

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