'Fitch warns of rising China credit risk'

from ap.........

"Fitch Ratings said Thursday that China's credit risk has increased because local governments have become heavily indebted, with a lack of disclosure by financial institutions compounding the problem.

The comments by Fitch, one of the three major credit rating agencies, come amid concerns that borrowings by local authorities in China for expensive public works may overwhelm the ability of some local governments to repay banks"..........READ MORE