摘要
If you ask China watchers to list threats to the countrs economy, you would probably get this one item on everyone＇s list----hefty local govemment debt. China released the results of a long-awaited nationwide audit on government debts in an ,
A nationwide audit raises alarms over risks from localgovernment debts If you ask China watchers to list threats to the country’s economy,you would probably get this one item on everyone’s list—hefty local government debt.China released the results of a long-awaited nationwide audit on government debts in an attempt to ease mounting market concerns over the amount of debt and its possible impact.Local governments’direct debts—debt that will be repaid by the government’s fiscal revenue—reached 10.9 trillion yuan($1.79trillion)by the end of June 2013,with
