PBOC: Debt levels not worrisome

Central bank says liabilities are small for one of world's major economies

China's debt ratio is controllable and a fast deterioration is unlikely, as measures have been taken to prevent potential risks, despite a relatively high level of corporate debt, the central bank governor said at the 19th National Congress of the Communist Party of China on Thursday in Beijing.

The risks of a sudden collapse of asset prices can be avoided while the tightening regulation on local government financing vehicles will continue to take effect, said Zhou Xiaochuan, governor of the People's Bank of China.