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China Should Accept Some Deficit and Debt Levels in 2021: Journal

CHINA PRESS

China needs to maintain appropriate scales of deficits and debts next year as policymakers maintain moderate fiscal spending, the China Securities Journal reported citing Liu Shangxi, the head of the Chinese Academy of Fiscal Sciences. Liu suggested to limit the scale of local government debts while boosting short-term China Government Bonds, the newspaper said. Local governments' current high debts strain their fiscal conditions and are more difficult to manage, Liu was cited as saying.

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