China Premier says local govt debt under control-media

PHOTO: China Premier says local govt debt under control-media

BEIJING - China's overall local government debt is under control and audits of government finances should be strengthened to uncover potential risks, Premier Li Keqiang was quoted by state media as saying on Tuesday.

China will continue to strictly control the government deficit as it will be difficult to maintain double-digit growth in fiscal revenue, Li was quoted as saying by China Radio International's online website, www.gb.cri.cn.

Li was speaking at an auditors forum in Beijing, the website said. The remarks are a reiteration of current government views.

China's National Audit Office has conducted an audit of all government debt and its report is expected to come out this month.