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Beijing's deleveraging drive may see first local default

Wednesday, June 28, 2017 - 05:50

Shanghai

CHINA may finally be ready to cut the cord when it comes to the country's troubled local government financing vehicles (LGFV).

Beijing's deleveraging drive has seen rules impacting LGFV debt refinancing tightened, spurring a slump in issuance by the vehicles, which owe

sentifi.com

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