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Some local governments are taking the risk....>

CHINA
CHINA: Some local governments are taking the risk of investing in public-private
partnership (PPP) projects while ignoring the requirement that expenditures on
such projects be no more than 10% of a local government's total budget, Vice
Finance Minister Shi Yaobin said  at a meeting to discuss PPPs, the Ministry of
Finance (MOF) reported on its website on Tuesday. Shi said that such
expenditures would intensify the medium- to long-term fiscal pressures faced by
local governments. The MOF will alert local governments whose PPP expenditures
approach or surpasses 10% of their total budgets, and the MOF will also ban
local governments from borrowing money and increasing their debts through PPP
projects, Shi said.

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