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China's back-door funding re-opens in blow to deleveraging

Thursday, May 21, 2015 - 05:50
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Mr Lou initiated a crackdown last year on the off-balance-sheet financing that local authorities used for their projects

Beijing

TWO decades after he helped craft China's fiscal system, Lou Jiwei is now battling to clean up the mess it has become.

China's finance minister since March 2013, Mr Lou, now 64, needs to travel no further than Tianjin, about 40 minutes by high-speed rail from Beijing, to