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Local governments face financing woes

By Zheng Yangpeng | China Daily | Updated: 2013-07-15 07:10

Overcapacity, sluggish demand highlighted as major difficulties

Burdened by overcapacity in manufacturing, local governments are finding the current downturn more difficult to cope with than the 2008-09 crisis.

Many of their investment projects are hard to sustain as economists are urging the central government to refrain from bailing them out with easy credit.

Local governments face financing woes

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