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A budgeting offical said the debts of China's local governments are controllable after enhanced efforts to bring down default risks.
Hong Kong stocks fell 249.08 points, or 1.3 percent, to close at 18,951.85 on Friday.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, dropped 9.95 points, or 1.39 percent, to close at 706.22 points on Friday.
China's stock index futures closed lower Friday, with the contract for May, the most actively traded, down 1.17 percent from the previous trading day to 2,576 points.
Chinese shares closed lower Friday, with the benchmark Shanghai Composite Index down 1.44 percent to 2,344.52.
Hong Kong's composite interest rate dropped by three basis points from 0.42 percent at the end of March to 0.39 percent at the end of April, the HKMA announced Thursday.
The NPL ratio for China's commercial banks stood at 0.9 percent as of the end of the first quarter, down from 1 percent at the end of last year.
When traditional investments were in recession in 2011, art funds prospered as investors sought a hedge against long-term inflation.
China should diversify its capital markets to allow more investment products for investors with different levels of capital strength
Small businesses in Wenzhou can now be established with zero registered capital, and they can borrow using their equity as collateral.
Chinese companies are operating with "alarming levels" of corporate debt, even though the country's gross debt remains relatively low.
"Extremely" high corporate debt ratios pose a risk to China, one that will persist as long as bank debt dominates total financing
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