Fitch: Rise in China’s local government debt significant but "still manageable"

Fitch ratings says "The 34% rise in China's local government (LG) debt from mid-2013 to end-2014 is significant, but major reforms to control higher leverage, to monitor finances better and facilitate more sustainable sources of revenue, will mitigate financing costs and reduce risks associated with the debt"

Fitch maintains that the debt load is still manageable despite the rapid rise in LG debt in 2014 and the likely further increase this year

Much more detail here: Fitch: China Local Debt Rise is Significant, but Manageable