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Beijing seizes up to 1 trillion yuan in unspent local govt budgets: sources

Officials said to be unwilling to blow funds on major projects amid a national crackdown on graft

Beijing

ANGRY Chinese authorities have seized up to one trillion yuan (S$220.9 billion) from local governments who failed to spend their budget allocations, sources said, as Beijing seeks ways to stimulate economic growth which is at its slowest for 25 years.

The huge underspend,