China's Local-Government Debt Doubles In 2 Years, May Roll Out Municipal Bonds In March

China's local-government debt may have skyrocketed to about 20 trillion yuan ($3.3 trillion) at the end of 2012, or nearly double from 2010, the state-owned Global Times newspaper reports, citing a new report by the Chinese Academy of Social Sciences. An audit into local-government debt by the National Audit Office showed the figure stood at 10.7 trillion yuan by the end of 2010.