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Local-government Debt Within Approval Limit - MOF

CHINA PRESS
MNI (BEIJING)

Local-government debt remained within the approved limit at the end of August, the Ministry of Finance noted in a recent report. National local-government debt stood at CNY38.7 trillion in August, within the approved limit of CNY42.1 trillion set by the National People's Congress. Central University of Finance and Economics Professor Bai Yanfeng said local governments can safely manage debt with the gradual improvement of the economy and the lowering of interest rates. Securities Daily said the central government still wants cities and counties to resolve debt risks through increased revenue, cost reduction and asset realisation.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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