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China Moves to De-Risk Local Government Debt
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China Moves to De-Risk Local Government Debt

Our Correspondent
Mar 13, 2015
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China Moves to De-Risk Local Government Debt
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China today ordered the biggest debt swap in the country’s financial history, to replace opaque, off-balance sheet local government debt with standardized provincial government bonds, hopefully alleviating the immediate risk from huge local governments’ debt burdens.

On top of that, however, the move is designed to expand what is a flailing bond market b…

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