China calls for ‘strict accountability’ at local government levels where funds are misused

China’s State Council says local governments should be held accountable for wasteful spending, as Beijing seeks to strike a balance between controlling growing debt risks and maintaining steady economic growth.While China’s overall debt level has stabilised and is steadily declining, the economy is facing “new” downward pressure, according to a report by the official Xinhua News Agency on Wednesday after the State Council executive meeting, which was chaired by Premier Li Keqiang.As such, it is…


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