China's new government debt to total 11.86 trillion yuan in 2025

BEIJING, March 5 (Xinhua) -- China's new government debt will total 11.86 trillion yuan (about 1.66 trillion U.S. dollars) in 2025, an increase of 2.9 trillion yuan over last year, enabling a notably higher level of fiscal spending, according to a government work report submitted Wednesday to the national legislature for deliberation.