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Financial News, a newspaper run by......>

CHINA PRESS
CHINA PRESS: Financial News, a newspaper run by the People's Bank of China,
stressed Monday the need to maintain stability while China takes measures in
managing the rising level of local government debt. Participants in the market
widely support the strengthening of controls on local debt levels, but the
process needs to maintain stability as it is the main theme of financial
regulation in the country now. China faces pressure from an economic slowdown
and local governments are facing difficulties maintaining the high fiscal income
levels needed for debt service as their economic growth inevitably ends its
"abnormal growth period." (Financial News)

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