China’s central bank has been warned to clean up debt risk among so-called local-government financing vehicles. Photo: Reuters

China’s central bank urged to prevent ‘chain reaction’ of debt defaults among local financing vehicles

  • An adviser to China’s central bank has warned the government needs to cut risk among local government borrowing platforms
  • So-called local-government financing vehicles have long been used by regional governments to raise funds via off-balance-sheet debt
Topic |   China economy
China’s central bank has been warned to clean up debt risk among so-called local-government financing vehicles. Photo: Reuters
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