China should not suddenly slash local...>

CHINA PRESS: China should not suddenly slash local government debt, said Liu

Shangxi, director of Chinese Academy of Fiscal Sciences, according to his

article published Wednesday in the newspaper of CPPCC. 

- At a time when several government departments are looking to curb invisible

debt this may pose a risk to economic stability: Liu; 

- Unclear fiscal responsibility at different levels of government, the lack of a

fiscal risk assessment system, and the unpredictability of higher-level

government policies caused the emergence of invisible debt: Liu; 

- Regulation on invisible debt should be based on changes in the domestic

economy and international environment: Liu.