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Local Governments Should Curb Any New Implicit Debt

CHINA PRESS
MNI (Singapore)

Local governments should curb the increase in implicit debt and reasonably control the debt scale, according to a statement released by Office of the State Council on the gov website on Monday. Local governments should resolve debt risks by increasing revenue and cutting expenditure, and cashing in assets, so to effectively reducing the debt repayment burden of cities and counties, the statement said. Any illegal borrowing should be punished, the statement added.

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