China May Shift $463 Billion of Debt Off Local Governments, Reuters Says
By Bloomberg News - Jun 1, 2011
China plans to shift as much as 3 trillion yuan ($463 billion) of debt off of local governments, reducing the possibility of defaults that could threaten stability, Reuters reported, citing unidentified people.
The central government will pay off some local debt and make state-owned banks write off some bad loans, the news agency reported yesterday. China will also end a ban on provincial and municipal governments selling bonds, according to the report.
China May Shift $463 Billion of Debt Off Local Governments, Reuters Says
By Bloomberg News - Jun 1, 2011 China plans to shift as much as 3 trillion yuan ($463 billion) of debt off of local governments, reducing the possibility of defaults that could threaten stability, Reuters reported, citing unidentified people.
The central government will pay off some local debt and make state-owned banks write off some bad loans, the news agency reported yesterday. China will also end a ban on provincial and municipal governments selling bonds, according to the report.
|
