Audit report: China's local government debt under control

The overall risk of China's government debt is under control and the momentum of steady economic growth is being maintained, according to the country's top auditor.

The National Audit Office said in a news release that mechanisms such as quota management, budget management, risk disposal and regular supervision are being improved, and the momentum of government debt growth has been effectively controlled.

The Chinese government has always attached great importance to the management of government debt, and has established a standardized borrowing and financing system for local governments, the news release said.