HONG KONG -- Pan Gongsheng, governor of the People's Bank of China, warned on Tuesday that certain financially weaker regions in the west and north of the country may have "difficulties servicing local government debts."
Speaking at a conference in Hong Kong commemorating the 25th anniversary of the opening of the Basel, Switzerland-based Bank of International Settlements' office in the city, Pan told global central bankers and financial players that he recognizes the anxiety over conditions in the Chinese real estate sector.
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