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China cracks down on local government debt with 'negative list'

Amid fears of a debt blowout in the provinces, the government prohibits local governments from funding certain types of infrastructure project in the name of ‘procurement of services’.
China cracks down on local government debt with 'negative list'

In a bid to rein in burgeoning debt among local governments, China's Ministry of Finance has announced a so-called "negative list" to prevent local governments from funding certain types of infrastructure project.

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