债台高筑，中国城市转寻私人投资

choi

Neil Gough and 曹莉, 债台高筑，中国城市转寻私人投资. 纽约时报中文网, Aug 7, 2015
cn.nytimes.com/china/20150807/c07chinadebt/

, which is translated from

Neil Gough and Cao Li, Trying to Grow Without Beijing; Deeply in debt, Chinese cities woo investors. New York Times, Aug 7, 2015.

three consecutive paragraphs:

rapid urbanization over the last decade has saddled the local government [of Weifang] with debts totaling 88.4 billion renminbi, or $14.2 billion, as of June 2013, the most recent data available.

"Since 2007, China’s overall local government debt has risen at an annual rate of 27 percent. It now totals almost $3 trillion, according to estimates from the consulting firm McKinsey & Company.

"Companies, too, have gorged on cheap credit in recent years. Altogether, China’s total debt stands at 282 percent of its gross domestic product

My comment:
(a) This report says nothing new, except with a concrete example of City of Weifang (as opposed to an abstract, faceless concept: Chinese cities are all like this).
(b) Weifang  山東省 潍坊市
(c) MTR
https://en.wikipedia.org/wiki/MTR
(Mass Transit Railway; 1979- ; The MTR system is operated by MTR Corporation Limited (MTRCL)[, a company listed in Hong Kong Exchange])
(d) "In the sleepy village of Beiying on the outskirts of Weifang"

山东省潍坊市寒亭区寒亭街道办事处 北营村