China's economy could face three........>

CHINA PRESS: China's economy could face three major financial risks in the year

ahead, including possible local government debt defaults, pressures generated

from ongoing real estate market regulation reform and the U.S. lifting long-term

interest rates beyond expectations, wrote Zhang Ming, researcher at the

Institute of World Economics and Politics under the Chinese Academy of Social

Sciences in a commentary piece published by Economic Daily on Tuesday.

- Zhang suggests that the government should increase the issuance of treasury

bonds to hedge the deleveraging pressure on local governments. At same time, the

banking system should raise appropriate capital and set aside more money against

bad loans, the newspaper said citing Zhang.

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