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PBOC's role in focus as local government debt grows

Central bank chief has options ranging from broad monetary easing to targeted steps in order to avoid credit crunch


A SURGE in China's local-government debt pile is drawing focus to the central bank's role in avoiding a credit crunch as policy makers seek to develop a municipal-bond market.

Provincial authorities estimated they had some 16 trillion yuan (S$3.4 trillion) in liabilities...

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