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/ 178.36.44.* / 2011-06-27 09:00
Ogromne kłopoty finansowe na poziomie lokalnym w Chinach.
China’s first audit of local government debt found liabilities of 10.7 trillion yuan ($1.7 trillion) and warned of repayment risks, including reliance on land sales and investment in stock markets.
A total of 148 financing vehicles set up by local governments already had more than 8 billion yuan in overdue debt, while more than 5 percent of such companies used new bank borrowing to repay existing loans, according to an audit report posted on the National Audit Office’s Web site.
"Some local government financing platforms' management is irregular, and their profitability and ability to pay their debts is quite weak," Liu Jiayi, the country’s auditor-general said today, according to a transcript of his speech. Some local governments offered non-compliant guarantees or issued debt directly, while others are relying heavily on land income to repay, Liu said.