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MNI BRIEF: China To Quicken Resolving Local Debt Risks

MNI (Singapore)
MNI (Beijing)
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China will accelerate resolving local government debt risks, pushing the reform and transformation of local government financing vehicles, said Vice Minister of Finance Wang Dongwei at a press conference on Monday.

The national general public budget revenue was CNY6.08 trillion in Q1, a decrease of 2.3% y/y as some tax deferrals for manufacturing SMEs raised the comparison base same period last year, said Wang.

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China will accelerate resolving local government debt risks, pushing the reform and transformation of local government financing vehicles, said Vice Minister of Finance Wang Dongwei at a press conference on Monday.

The national general public budget revenue was CNY6.08 trillion in Q1, a decrease of 2.3% y/y as some tax deferrals for manufacturing SMEs raised the comparison base same period last year, said Wang.

Keep reading...Show less