Overall, China's local government debt risks are controllable, Lan Fo'an, China's minister of finance, said at the press conference on the economy for the second session of the 14th National People's Congress in Beijing on Wednesday.

Lan said in recent years, the ministry of finance has worked with the relevant sides to implement the decisions made by the Communist Party of China Central Committee, and it prioritizes effectively preventing and defusing local government debt risks and rolling out a package of measures to defuse risks.