China Debt, Government, Bad Loans, Economy

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Dec. 19 (Bloomberg) -- Debt accumulated by companies financing local governments such as Tianjin, home to a Manhattan lookalike project, is rising, a survey of Chinese-language bond prospectuses issued this year indicates. Bloomberg News tallied the debt disclosed by all 231 local government financing companies that sold bonds, notes or commercial paper through Dec. 10 this year. The findings suggest China is failing to curb borrowing that one central bank official has said will slow growth in the world’s second-largest economy if not controlled. Bloomberg's Stephen Engle reports. (Source: Bloomberg)

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