CHINA TO RAISE LG DEBT CEILING BY $840 BILLION TO BOOST ECONOMY – STATE MEDIA
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Agency Report
As a crucial conference came to an end in Beijing on Friday, official media reported that China’s top lawmakers had accepted a plan to raise the debt cap for local governments by $840 billion.
According to broadcaster CCTV, the action will “free up space for local governments to better develop the economy and protect people’s livelihoods” and is China’s “most powerful debt reduction measure in recent years.”
AFP
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