China to Audit Government Debt as Economic-Growth Risks Rise

China to Audit Government Debt as Economic-Growth Risks Rise

Tomohiro Ohsumi/Bloomberg

A Chinese national flag flies in front of buildings in the Lujiazui district of Shanghai. The first audit of local-government debt found liabilities of 10.7 trillion yuan ($1.8 trillion) at the end of 2010, the National Audit Office said in June 2011.