Chinese local governments borrowed far more in 2012 than the year prior, raising concerns that the nation’s growth rebound has come at the cost of increased risk, The Wall Street Journal reported. Local government bond issuances rose 148% from 2011 to US$102 billion in 2012, the central bank-backed China Central Depository & Clearing Company reported earlier this month. In the three quarters of 2012, loans from trusts also grew by US$60.4 billion, compared to a decline in the same period of 2011. Beijing reined in local government debt issuances in 2011, but a 2012 slowdown sparked a second surge in borrowing. “Commercial banks have chosen to roll over most of the loans last year, but they can’t extend forever,” said Wen Zongyu, a researcher affiliated with the Ministry of Finance, of the risk of default.