BEIJING , December 25 , SinoCast -- China may allow local governments to issue municipal bonds as early as next March, said an unnamed source. Currently, only six local governments are allowed to issue bonds directly, including provisional governments of Zhejiang , Guangdong , Jiangsu and Shandong as well as city governments of Shanghai and Shenzhen . In July, China's National Audit Office said that it had been doing a comprehensive review of local government debts. However, no official data has been released yet. The Chinese Academy of Social Sciences said on Monday that at the end of last year local government debt recorded CNY 19.94 billion , almost a doubling in past two years.
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Some California Cities Seeking Water Independence
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- Will Missing Malaysian Jet Prompt Aviation System Change?
- SoCalGas Reaches Record Spend on Diversity Suppliers
- Keurig Adds Peet's coffee, Alters Starbucks deal
- Obama Seeks to Stay Neutral in CIA-Senate Conflict