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China cannot easily solve debt problem, but no systemic risks: finance minister

Reuters

CHENGDU, China (Reuters) - China's finance minister Lou Jiwei warned on Sunday that the government cannot easily step in to solve debt problems, but that China does not have systemic regional debt risks despite a few corporate defaults.

Lou was speaking at the conclusion of the G20 meeting of finance ministers and central bankers in the southwestern Chinese city of Chengdu.

He said the country would take steps to prevent risks involving strategically important financial institutions, and implement both demand-side and supply-side policies - but rely mainly on supply-side reform.

(Reporting by Kevin Yao; Writing by Pete Sweeney; Editing by Jacqueline Wong)