China orders audit of government debt

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China has ordered a nationwide audit of all government debt, underlining fears that the recent slowdown in its economy may impact the financial sector. Local governments in China borrowed heavily after the global financial crisis to try to sustain growth rates.

Source: Bbc Via: BBC News

China has ordered a nationwide audit of all government debt, underlining fears that the recent slowdown in its economy may impact the financial sector. Local governments in China borrowed heavily after the global financial crisis to try to sustain growth rates.

Read more at: Bbc