China to Take Measures to Control Local Government Debt

📆 3/6/2024 11:15 PM
📰 The Straits Times

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China,Local Government Debt,Measures

China plans to shame officials and companies hiding new arrears and strengthen oversight to control local government debt. The Finance Ministry recognizes the need for a better mechanism to guard against hidden debt risks.

China will roll out measures to keep runaway local government debt under control, including shaming officials and companies found guilty of hiding new arrears. Supervision will be tightened to ensure repayment plans are enforced.

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