SHANGHAI/BEIJING -- As China scrambles to sustain economic momentum with the help of aggressive fiscal stimulus, many heavily indebted local governments face the prospect of digging themselves even deeper into "hidden" debt.
"We must be fully prepared for a tough struggle," Premier Li Keqiang said on Tuesday on the opening day of the annual National People's Congres, the country's parliament. Delivering the government work report, the premier expressed Beijing's commitment to preventing a downward economic spiral and maintaining at least 6% growth.
