China's debt risks are under control given its high savings rate, but steps are needed to tackle exceptionally high corporate liabilities, an influential government economist said on Wednesday.
"The possibility of having a debt crisis in China is small," Li Yang from the Chinese Academy of Social Sciences (CASS), a top government think-tank, told a news conference.
"China is a country with a high savings rate and its debt problem is mostly internal, which is totally different from countries with low savings," Li said.
Global investors are increasingly worried about mounting debt in China, with continued efforts by authorities to stimulate the economy threatening to amplify the problem.
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"The possibility of having a debt crisis in China is small," Li Yang from the Chinese Academy of Social Sciences (CASS), a top government think-tank, told a news conference.
"China is a country with a high savings rate and its debt problem is mostly internal, which is totally different from countries with low savings," Li said.
Global investors are increasingly worried about mounting debt in China, with continued efforts by authorities to stimulate the economy threatening to amplify the problem.
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