China's National People's Congress (NPC) Standing Committee bi-monthly session has imposed a limit on local debt
- ceiling of 16 trillion yuan ($2.5 trillion) in local debt for this year
The 16-trillion-yuan debt consists of two parts:
- 15.4 trillion yuan in local government debt outstanding as of the end of last year
- 600 billion yuan deemed the maximum size of debt local governments are allowed to run up in 2015
Xinhua with the report on Saturday
