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There are signs of potential defaults...>

CHINA PRESS
CHINA PRESS: There are signs of potential defaults from government
infrastructure-backed special purpose bonds as outstanding debts exceed
revenues, according to a report in the 21st Century Business Herald. The
Herald's report cites Wang Kebing, an inspector from the Budget Department at
the Ministry of Finance, who said that outstanding debt from the bonds was at
CNY7.39 trillion against local government fiscal revenue of CNY7.14 trillion in
2018. With the issuance of special purpose bond increasing, local government
should also broaden its sources of income from infrastructure projects instead
of relying on selling land, Wang said. 

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