China to Finish Debt Audit Ahead of Key Meeting
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China will this month complete an audit of local-government debt to assess risks to its financial system, ahead of a Communist Party meeting in November to set economic policy, a government official said.
China’s finance ministry will wrap up its first full audit in more than two years in September and release the results in October, Vice Finance Minister Zhu Guangyao said yesterday at a briefing during the Group of 20 Summit in St. Petersburg, Russia. The total volume of debt is expected to rise slightly, he said.