China will support local governments in resolving debt issues, finance minister says
BEIJING, Oct 12 (Reuters) -China will support local governments to resolve their debt issues, Finance Minister Lan Foan said on Saturday, adding that local governments have 2.3 trillion yuan ($325.47 billion) in debt funds to spend in the last three months of this year.
Fiscal stimulus measures in China have been the subject of intense speculation in financial markets after a September meeting of the Communist Party's top leaders, the Politburo, signalled an increased sense of urgency about mounting economic headwinds.
($1 = 7.0666 Chinese yuan renminbi)
Reporting by Joe Cash and Kevin Yao; Writing by Eduardo Baptista; Editing by Kim Coghill
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