Local debt rules to be bolstered

Leverage remains under control, but possible risks 'scrutinized'

China will strengthen efforts in regulating local government debts, giving more prominence to controls over hidden debt risks, the vice-minister of finance said on Friday.

"While the overall government debt remains well below the level that would be risky, risks involved in illegal funding methods will be scrutinized in order to prevent financial hazards," said Vice-Minister of Finance Liu Wei.