China's Local Government Debt Surges

China's local government liabilities jumped to nearly $3 trillion at the end of June, according to a new audit, in a much-anticipated glimpse into the financial health of the world's No. 2 economy.



via WSJ.com: World News http://online.wsj.com/article/SB10001424052702304591604579289771905130900.html?mod=fox_australian