As Liu noted, the debt balance of local governments stood

  at 18.39 trillion yuan ($2.74 trillion), well below the official ceiling of 21 trillion yuan. The loc

al debt ratio of 76.6 percent is also much lower than the international warning line of 100 percent to 120 percent.

  The government has said there will be no major changes in the government debt ratio in the years

to come versus the level in 2017, and, more important, it has vowed to increase the transparency of government debts.

  Hopefully, this will help root out the exaggerated fears about a syste

mic financial meltdown, so that doomsayers will no longer have an excuse to cry wol

f.n 2018, the average monthly salary of Chinese women was 6,497 yuan, which was 78.3 percent of that of men, an incr

ease of 8.7 percentage points over the previous year, according to a report on China’s gender gap in workplaces, relea

sed by online recruitment website zhipin.com on Wednesday. The report said that jobs, industries and seniority we

re the top three contributing factors of the gender pay gap, while education could help narrow it.

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