Debt issue can be solved, top auditor says

The central government is capable of solving its debt issue, the scale of which will be disclosed when an ongoing investigation is completed, the country’s top auditor says.

The audit into the debt scale that began in August is not complete, Liu Jiayi, head of the National Audit Office, said on Monday during the 21st International Congress of Supreme Audit Institutions.

"There is no pressure to make public the results of this investigation unless it involves classified information or personal privacy," Liu said.

The nation's local government debt stood at 10.7 trillion yuan ($1.75 trillion) at the end of 2010. Analysts estimate it may have grown to 15 trillion to 20 trillion yuan in the past two years.

But Liu said such estimates are groundless. Based on previous results, the nation has the capability of solving the debt issue, he said.