Governor of China’s Shandong Says May Sell Assets to Pay Debt

Some cities and counties in China’s Shandong may need to sell assets to repay borrowings as the eastern Chinese province seeks to pare debts accumulated by local authorities, Governor Guo Shuqing said.

The province will pay back all of its local debt, which should be less than 1.2 trillion yuan ($192 billion), Guo said during a meeting of Shandong delegates to the National People’s Congress in Beijing today.