Local governments are looking...........>

CHINA PRESS: Local governments are looking extensively into the current debt

situation, working on solutions to tackle local debt risks, and must report

their findings to the Ministry of Finance by the end of this month, reported

Economic Information Daily, citing an anonymous insider.

  - The inspection will focus on the total amount, category, structure and

region of local debts, as well as the use of implicit debts, which refers to

what the local government borrows out of the debt limit, the Daily said;

  - Local governments have been ordered to resolve debt stocks and strictly

control debt increments; and are forbidden from borrowing illegally using

financing guarantee or disguising implicit debts in the form of public-private

partnership or government procurement, the newspaper said.