China may begin a pilot program to issue local government bonds, a state-run news outlet said Monday, amid rising concerns that regional governments are struggling to cope with massive debt. In June, the Chinese National Audit Office said that the country\'s regional government debt reached 10.7 trillion yuan (US$1.65 trillion), equivalent to 27 percent of the country\'s 2010 gross domestic product (GDP), estimated at 39.8 trillion yuan.