Local govt debt risk 'is under control'
By Hu Yuanyuan and Wei Tian | 皇冠体育app Daily | Updated: 2011-08-16 08:06
Authorities have enough assets to repay, finance ministry says
BEIJING - Local government debt is "controllable", the Ministry of Finance said on Monday, easing fears that bad loans could derail the world's second-largest economy.
"Judging from the audit results, local government debt is, generally, controllable, though there are potential risks in some areas," the ministry said in a statement posted on its website.
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