BEIJING, Aug. 15 (Xinhua) -- China said on Monday the default risk of its local government debt is "controllable overall," while it urged strict checks over new debts that are potentially unsafe. Local governments as a whole have the ability to repay their debts, but some districts and industries are financially weak and potentially risky, the Ministry of Finance said in a statement on its website. The evaluation came after the disclosure of massive local government debts aroused concerns ...

Read more: China says local govt debt risk controllable