Local Government Debt Exceeded 5 Trillion Yuan as of May 2009
Published:
2010-03-04
Chinese policy-makers are starting to worry that the huge amount of funds lent to local governments amid the roll out of the country's 4 trillion yuan stimulus package, could become a major problem. According to statistics from the central bank, the total amount of local government debt exceeded 5 trillion yuan by the end of May in 2009.
Source
China Economic Weekly
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