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Chinese Debt Trap Hits China’s Local Governments | Chinese Govt In Debt Trap

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<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/q-F6bav6SXY" title="YouTube video player" width="560"></iframe></p>
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China is waking up to their failed economic policy with the China Banking and Insurance Regulatory Commission (CBIRC) and Ministry of Finance issuing a notice asking local banking and insurance institutions not to increase their “hidden debts” in the local governments. The move has jolted the local government investment companies as banks play a key role in providing loans as a main source of indirect financing.</p>

IN Bureau

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