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Billions pilfered from China's state-run pensions: report

Nearly $9 billion in Chinese pension fund money has been misused by local governments as they face mounting financial pressure, according to a report by the country's top auditor.
Billions pilfered from China's state-run pensions: report

Cash-strapped local governments in China have pilfered billions of dollars from state-run pension funds, partly to cover their mounting debts, according to the country’s top auditor.

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