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China should establish a financial......>

CHINA PRESS
CHINA PRESS: China should establish a financial risk warning system with
different levels of intervention, Securities Times reports. The Times cites Ma
Jun, a member of the PBOC's Monetary Policy Commission, who said that local
governments should take responsibility for managing risks triggered by their
implicit debts. Insolvent local government financing vehicles (LGFVs) should be
encouraged to integrate with other financial vehicles which have liquid assets,
according to Ma. 

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