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Massive debt plagues local gov't

Updated: 2013-07-01 08:02
By Wei Tian ( China Daily)

Massive debt plagues local gov't

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.

Massive debt plagues local gov't

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