Nov 27, 2024 09:58 AM

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CX Daily: China’s Multitrillion-Dollar Salve for Local Government Hidden Debt

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In Depth: China’s multitrillion-dollar salve for local government hidden debt

At a press conference on Nov. 8, China unveiled a 10 trillion-yuan ($1.4 trillion) package for its local governments to deal with their hidden debt, fulfilling Finance Minister Lan Foan’s promise of “the most significant measure introduced in recent years” to tackle the issue.

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