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Better risk control eyed on local government debts

Update Date:2018-7-3 12:02:22     Source:www.3737580.com     Views:198

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China will better manage local government debts and improve the risk control mechanism, the Ministry of Finance said yesterday amid rising risks from expanding debt as the economy slows.

China will cap outstanding debts of local governments and strengthen management of new bond quotas, according to the ministry’s online statement. 

Currently, local governments issue bonds according to a quota set by the central authorities.

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