BEIJING : China's local government fiscal situation is likely to improve as the economy rebounds this year, though debt risk for some authorities is high and repayment pressure is large, Minister of Finance Liu Kun said on Wednesday.
"We have urged some local governments to take the main responsibility, resolve risk associated with government debt and hold the bottom line to avoid systemic risk," Liu said at a news conference in Beijing. "The main issue regarding local debt is uneven distribution. Debt risk for some local governments is relatively high and pressure to repay debt is large," the minister said.
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