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China sees steady growth in net assets of public sector

Xinhua, January 24, 2016 Adjust font size:

Total net assets of China's public sector, including government executive departments and state-owned enterprises, stood at 113.8 trillion yuan (17.2 trillion U.S. dollars) by the end of 2014, according to research published Sunday.

From 2010 to 2014, the growth pace of the public sector's net assets averaged 8.6 percent, according to the finance research institute under the People's Bank of China, the central bank.

The data showed that the Chinese government has a good foundation for economic control and increasing investment overseas, according to the institute.

It added that the government's net assets were substantial and also demonstrated structural stability and fitness.

The research also showed that the debt risk of the public sector is under control, with debt growth dropping from 26.6 percent in 2011 to 13.2 percent in 2014. Endi