China’s Wen calls debt level “safe”

China’s Premier Wen Jiabao has said the nation's government debt is at an “overall safe and controllable” level, that funding for key projects would be ensured and that applying the brakes to the economy would be done in a way to avoid systemic risks. Wen's comments, reported in the People's Daily, were made in a speech at the government’s flagship financial work conference. Wen pledged to contain and defuse local government debt risks and avoid the spread of financial risks.