Are Urban Investment Firms Really Going Solo?
As Beijing continues to rein in excessive government borrowing, several companies set up by local officials to act as financing platforms for infrastructure projects have announced they are cutting official ties.
However, many wonder if these announcements accurately reflect reality.
Since the beginning of this year, 33 urban construction investment companies have released statements saying they would no longer act as local government financing platforms, compared with 25 such announcements in 2016 and five in 2015.
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