China Unveils Steps to Tackle Hidden Debt of Local Governments
BEIJING, Nov 8 Reuters China will let local governments issue an additional 6 trillion yuan 837.7 billion in bonds to swap for offbalance sheet or hidden debt over three years, an official said on Friday, in a crucial step to lower systemic risks in the flagging economy. The economy has stuttered in recent months, facing strong deflationary pressures amid […]