Regional governments have established more than 10,000 local financing units to fund construction projects after they were barred from directly issuing bonds under a 1994 budget law. Photo: Xinhua Regional governments have established more than 10,000 local financing units to fund construction projects after they were barred from directly issuing bonds under a 1994 budget law. Photo: Xinhua
Regional governments have established more than 10,000 local financing units to fund construction projects after they were barred from directly issuing bonds under a 1994 budget law. Photo: Xinhua

China taps private capital to curb debt build-up at local governments

Regional governments have established more than 10,000 local financing units to fund construction projects after they were barred from directly issuing bonds under a 1994 budget law. Photo: Xinhua Regional governments have established more than 10,000 local financing units to fund construction projects after they were barred from directly issuing bonds under a 1994 budget law. Photo: Xinhua
Regional governments have established more than 10,000 local financing units to fund construction projects after they were barred from directly issuing bonds under a 1994 budget law. Photo: Xinhua
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