Source: China – South China Morning PostChina’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…Read More