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CX Daily: Chinese Local Governments Risk Replicating Mistakes of LGFVs

Published: Nov. 13, 2025 9:00 a.m. GMT+8

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In Depth: Chinese Local Governments Risk Replicating Mistakes of LGFVs

Chinese local governments have increased the number of culture-and-tourism investment companies (CTICs) in recent years, with some designed to shift their traditional financing vehicles onto a market-oriented footing, allowing localities to sidestep strict borrowing limits.

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