UPDATE 1-China says local governments owe nearly $3 trillion

BEIJING, Dec 30 (Reuters) - China's local governments are carrying total debt of nearly $3 trillion, data released on Monday revealed, a load that is smaller than the most dire market forecast but...

from Reuters: Financial Services and Real Estate http://feeds.reuters.com/~r/reuters/financialServicesRealEstateNews/~3/QYTPzTJAoUI/story01.htm