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Chinese banks rolled over at least 3T yuan ($482B) of 4T yuan in loans plus interest that local...
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Wednesday, January 30, 5:51 AM ETChinese banks rolled over at least 3T yuan ($482B) of 4T yuan in loans plus interest that local municipalities were due to have paid back at the end of 2012, the FT calculates. Councils took on the debt as part of the central government's massive stimulus program during the financial crisis but are struggling to earn the revenues to repay the loans.
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