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China should discourage local officials from raising excessive debt for development or evading debt obligations so as to better resolve hidden debt risks, Sina Finance reported citing former Finance Minister Lou Jiwei, who spoke at a forum. Currently, some local governments still insist on borrowing to stimulate investments and growth, while some officials wrongfully believe that the central government will bail out high-risk local government financing vehicles, said Lou. LGFV debts should be managed in standardized ways, Lou was reported as saying.