SHANGHAI: China is stepping up restrictions on financing to local government financing vehicles (LGFVs) to mitigate risks from hidden debt, the ...
SHANGHAI: China is stepping up restrictions on financing to local government financing vehicles to mitigate risks from hidden debt, the official Securities Times reported on Monday .
In future, banks and insurers will refrain from providing fresh liquidity to those platforms that enjoy implicit guarantees from local governments, and will prevent hidden debts from increasing, the report said.
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