70 pct local gov't debts yielding returns: Premier

More than 70 percent of China's local government debts are in the form of investment which have good prospect of yielding returns, Chinese Premier Li Keqiang said on Sunday. [Special coverage]

Li made the remarks at a press conference after the conclusion of the annual session of the National People's Congress, China's top legislature, in response to a question on financial risks in the world's second largest economy.

Reassuring the market, the premier said China is capable of preventing systemic or regional financial crises while allowing market-ruled liquidation in individual and isolated cases.