Outstanding Local China Government Loans May Top $1.62 Trillion, News Says

Chinese local government financing vehicles may have outstanding loans of as much as 10 trillion yuan this year and exceeding 11 trillion yuan in 2011, the China Business News reported, citing Liu Yuhui, an economist with the Institute of Finance and Banking at the Chinese Academy of Social Sciences.

The extent of risk at the vehicles depends on the nation’s economic growth and property market, Liu said, according to the newspaper.

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