The government fund-raising platforms in southwest China's Chongqing Municipality owned a total of 422.5 billion yuan (67 billion U.S. dollars) in debts by the end of February, local authorities said Wednesday.
The non-performing ratio of the government debts was 0.2 percent, signalling relative low risks, the local branch of the People's Bank of China, the central bank, said in a statement.
The debts accounted for about 42 percent of Chongqing's gross domestic product in 2011, which surged 16.4 percent year on year to about 1 trillion yuan.
Meanwhile, the outstanding loans of the financial institutions in Chongqing reached 1.39 trillion yuan by the end of March, up 18.7 percent from a year earlier and an increase of 71.9 billion yuan from three months ago, it said.
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