China tightens rules on insurers to fight local government debt fears
This comes as policymakers become increasingly wary of lurking financial risks in the world's second-largest economy
Add BT as a preferred sourceBeijing
CHINESE authorities have tightened rules on how insurers can provide financing to local governments, as Beijing intensifies its crackdown on illicit local government borrowing and risky lending practices.
The new rules are the latest in a series of tough measures taken by Beijing in recent months to rein in local government debt, with policymakers increasingly wary of lurking risks in the world's second-largest economy.
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Singapore releases Economic Strategy Review Final Report with more detailed proposals
Ringgit sinks to seven-month low despite record bond inflows as Fed fears dominate
Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass
