China uncovers $967m of irregular local govt debtscustom nike wristbands in Q3
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I suppose when you combine all that time invested at youth sporting occasions with the simple actuality of human nature and emotions, it is statistically unavoidable that 1 would bear witness to a broad selection of incidents ranging from the most hilarious to the most heart warming to the most shameful. And unfortunately, when I consider back on it, I can"t support but recollect that it was the grownups who had been nearly universally accountable for every single a single of the shameful behaviors I witnessed, whereas the youngsters monopolized ownership of the hilarious and heart warming occasions. Funny how that worked.
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BEIJING - China has uncovered irregular local government debts worth of over 6.4 billion yuan (about $967 million), authorities said.
Five local governments in Jiangxi, Shaanxi, Gansu, Hunan and Hainan provinces had raised the sum of debts through irregularly offering commitment letters, according to an audit report in the third quarter by the National Audit Office (NAO).
The audit findings also showed that ten cities and counties in Yunnan, Hunan and Jilin provinces as well as Chongqing Municipality had inflated their fiscal revenues by a total of 1.5 billion yuan.
At the same time, around 800 million yuan had been recouped after auditors found that the Anji county in east China"s Zhejiang Province had exaggerated the investment volume and borrowed the money from banks against relevant rules. Four people held accountable had been punished, the NAO said.