Policy lender, China Development Bank, has agreed to provide a large amount of 10-year loans annually to help local government financing vehicles Photo: Alamy
Policy lender, China Development Bank, has agreed to provide a large amount of 10-year loans annually to help local government financing vehicles Photo: Alamy

China pours more money into cheap loans to help regions deal with debt pile and aid economy

  • China Development Bank is providing low-interest rate loans to help local government financing units roll over maturing debt, including loans
  • Local government financing vehicle debt is estimated to account for 34 per cent of gross domestic product, according to China International Capital Corporation

Policy lender, China Development Bank, has agreed to provide a large amount of 10-year loans annually to help local government financing vehicles Photo: Alamy
Policy lender, China Development Bank, has agreed to provide a large amount of 10-year loans annually to help local government financing vehicles Photo: Alamy
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