摘要
According to a report issued by the National Audit Office, local government debt in China had totaled 17.9 trillion yuan （$2.9 trillion） by the end of June 2013. Of this, local governments are responsible for repaying 10.89 trillion yuan （$1 .76 trillion）, which accounts for 61 percent. They also assume the liability of guarantee for 2.67 trillion yuan （$430 billion） and some liability of salvage for 4.34 trillion yuan （$700 billion）, respectively.
Owing to authorities’efforts to tackle public debt,local governments now face difficulties in securing funding for urbanization By Wang JunAccording to a report issued by the National Audit Office,local government debt in China had totaled 17.9 trillion yuan($2.9 trillion)by the end of June 2013.Of this,local governments are responsible
