Over 1,100 universities in China had a total debt of $40.69 billion by the end of 2010, a senior official from the National Audit Office said on 3 July.
Despite government moves a few years ago to write off the worst of the debts, Liu Liyun, deputy director of the research institute of the National Audit Office of China, told China National Radio that university indebtedness continued to be a problem.
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