China's government debt ratio within reasonable range, risks controllable: finance minister

BEIJING -- China's government debt ratio is within a reasonable range and risks are manageable and under control, Finance Minister Lan Fo'an said on Friday.

By the end of 2024, China's government debt ratio stood at 68.7 percent, Lan said at a press conference on the country's fiscal reform during the 14th Five-Year Plan period (2021-2025).

The nation's government debts totaled 92.6 trillion yuan ($13.04 trillion) by the end of last year, including 34.6 trillion yuan in central government debts, 47.5 trillion yuan in statutory local government debts and 10.5 trillion yuan in hidden local government debts, the minister noted.