Massive debt plagues local gov't
By Wei Tian | China Daily | Updated: 2013-07-01 08:02
|
Moody's Investors Service estimates the direct and guaranteed debt of local governments in China could have been 12.1 trillion yuan at the end of 2012. Provided to China Daily |
How much have China's local governments borrowed? The answer has always been shrouded in mystery.
Photo
