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China Instructs Banks To Roll Over Local Government Debt (RTRS Sources)

CHINA

RTRS sources note that "China has instructed state-owned banks to roll over existing local government debt with longer-term loans at lower interest rates, as part of Beijing's efforts to reduce local debt risks in a faltering economy."

  • This had little impact on USD/CNH,.
  • Fiscal headwinds for Chinese local governments are well-documented.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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