Hunan Province is expected to issue a...>

CHINA PRESS: Hunan Province is expected to issue a policy to strictly limit the

number of local government financing vehicles (LGFVs), 21st Century Business

Herald reported Wednesday. 

- The policy will require LGFVs at the municipal level to be no more than three,

while those at the county level should be within two, the newspaper said; 

- Hunan will also reduce two thirds of the LGFVs in the province by the end of

this year, it said; 

- The province will also make more efforts towards the market-based reform of

LGFVs, including reducing government influence on state-owned companies, further

regulating local governments' financing practices, and preventing local

governments from requiring LGFVs to finance their spending.