Govt debts at $5 trillion

The total of China's government debts was about 30 trillion yuan ($4.94 trillion) by the end of June this year, according to an official from the Ministry of Finance who was quoted by information provider aastocks.com Wednesday as saying.

According to the official, local governments' debts were about 18 trillion yuan, and the other 12 trillion yuan in debt was the central government's.

The National Audit Office, China's top auditing body, said in July this year that it would conduct a nationwide audit on government debts.