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Chinese President Xi Jinping at the opening session of the Chinese People's Political Consultative Conference at the Great Hall of the People in Beijing on Saturday.   © Reuters

China's debt overhang tests Xi's 'quality growth' strategy

Solutions offered at annual congress favor state control over market mechanisms

ISSAKU HARADA, Nikkei staff writer | China

BEIJING -- China's debts are manageable, Premier Li Keqiang said at Monday's opening of the annual National People's Congress, but the mountains of debt amassed by Chinese businesses and local governments remain the biggest economic challenge facing President Xi Jinping in his second term.

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