China lays out ground rules to tackle local debt mess
Challenge is convincing financial institutions to make swaps, buy bonds
Add BT as a preferred source
Beijing
MORE than six years after China unleashed a record credit boom to shore up growth in the grip of the biggest global financial crisis since the 1930s, policymakers are starting to address the shaky financing that resulted.
In a template that could be expanded, regulators laid out ground rules for local governments to swap high-yielding, short-term loans for lower-cost, longer-term municipal debt.
TRENDING NOW
MAS tightens monetary policy ‘very slightly’ in July, defying expectations for a hold
UOB CEO’s youngest child Grant Wee turns burnout into a wellness business
Temasek should publicly state its position on the long-rumoured CapitaLand-Mapletree merger
Dunearn House sells 56% of 380 units at average of S$3,140 psf at launch
