China Lays Down Higher Debt Barrier for Rail Lines
China’s top economic planning body will raise the revenue requirements local governments must meet before building rail systems, in a bid to slow the growth of regional debt, sources close to the matter told Caixin.
The National Development and Reform Commission (NDRC) will consider the fiscal revenue, gross domestic product (GDP) growth and debt ratio of local authorities — all governments besides the central government — when it weighs whether to approve the construction of rail networks including subway and light rail systems.
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