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China should further control risks of...>

CHINA PRESS
CHINA PRESS: China should further control risks of local government debt
Ministry of Finance Liu Kun stressed on Tuesday, according to the official
Xinhua News Agency. 
  - China will curb some invisible debt by clamping down on illegal practices in
public-private partnerships, government investment funds and in governments'
activities to purchase services: Liu; 
  - The central government will further restrict projects at the local level
that cannot repay the debt: Liu; 
  - China will more quickly issue plans and guidance for the market-based
transformation of local government financing vehicles: Liu.

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