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It is more feasible for China to........>

CHINA PRESS
CHINA PRESS: It is more feasible for China to expand the scale of local
government special bond issuance rather than issue special China Government
Bonds, according to a front page commentary in Securities Times. The procedures
for issuing special CGBs are relatively complicated, requiring review and
approval by the National People's Congress, and these bonds could further raise
the deficit-to-GDP ratio. Special bonds issued by local governments are not
included in the calculation of the deficit rate, the commentary said. 

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