China will hit economic growth target, NBS spokesman |
2013-08-27 05:50 |
According to the latest data released by the NBS in July, industrial added value increased 9.7 percent year on year, with the growth rate up 0.8 percentage points from June, indicating confidence in Chinese enterprises, Sheng said. The Chinese government has unveiled a number of policies to cope with downward pressure and has created room for further economic rebalancing efforts, Sheng said. "I do have confidence in Sheng also expressed his confidence in An audit conducted in 2011 by the National Audit Office (NAO) found that local government debt totaled 10.7 trillion yuan at the end of 2010, more than 26 percent of GDP. In early June this year, the NAO said a follow-up audit found total debt owned by 36 local governments by the end of 2012, up 12.9 percent from 2010. The Chinese government has created many policies to regulate this area in recent years and the NAO started a nationwide audit of government-related debt. "The debt is under control," Sheng said. |