China's Local Debt Swells to 17.9 Trillion Yuan in Audit

http://www.bloomberg.com/news/2013-12-30/china-s-local-debt-swells-to-17-9-trillion-yuan-in-audit.html

Debt including contingent liabilities rose about 13 percent in the six months through June, based on figures in a report by the National Audit Office, posted on its website yesterday. That followed a 48 percent increase over the previous two years.''