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China will conduct bond swaps only......>

CHINA PRESS
MNI (Beijing)
CHINA PRESS: China will conduct bond swaps only for remaining legacy local
government debt and not for new hidden local government debt, as some in the
market have speculated, China Securities Journal reported citing Liu Shangxi,
head of a research institute under the Ministry of Finance. As of the end of
January, legacy local government debt issued under LGFV totaled CNY315 billion,
the journal said.

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