China orders audit of government debt

9:20 am
Mon July 29, 2013

China orders audit of government debt

Lead in text: 
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.
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.