China debt risk 'very much under control': vice fin min

BEIJING - China's debt risk is "very much under control", Vice Finance Minister Liu Wei said at the Boao Forum for Asia in southern Hainan province.

Liu was appointed the vice finance minister post in late February.

Chinese leaders have pledged to contain debt risks after years of credit-fueled expansion. Corporate debt has soared to 169 percent of gross domestic product, data from the Bank for International Settlements shows. -Reuters