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Update: Local Governments Rein in Investment Impulse

Beijing has tightened its grip on debt-driven investments by local governments amid concern about financial risks. Photo: VCG
Beijing has tightened its grip on debt-driven investments by local governments amid concern about financial risks. Photo: VCG

* Hunan province authorities have asked lower-level governments to comb through their government-funded projects to assess their debt risks

* Provincial authorities have also required local governments to identify and rectify any borrowing deemed ‘irregular’

Several of China’s provincial governments have started to cut government-funded investment projects in response to calls from the top to curb local government debt.

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