You are here

China lets local governments swap debt into municipal bonds

This is to reduce interest payments by as much as 50 billion yuan a year, allowing authorities to boost spending


CHINA will allow regional authorities to convert some high-yielding debt into municipal bonds in a bid to cut financing costs on liabilities that brokerages say have topped US$3 trillion, sparking speculation investors may shoulder losses.

The government will permit as much...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to