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CHINA PRESS: A report by the Chinese Academy of Social Sciences on the Chinese
government's balance sheet shows China's total assets can fully cover its total
liabilities and still have room for flexibility, the Economic Information Daily,
a newspaper under the Xinhua News Agency, said in a front-page report Friday.
From 2010 to 2015, the ratio of Chinese government's net asset to GDP was above
80% on average, with a fluctuation range of CNY40 trillion to CNY60 trillion,
the newspaper said, citing the CASS report which was released on Thursday. Chen
Hanwen, an accounting professor at the University of International Business and
Economics, said the data show China has the capability to manage financial risks
and refute speculation that China's economy is at risk of collapse. The CASS
report, however, cautions about the risk of accumulated debt. (Economic