Business / Macro

Boost local government debt management: Minister

(China Daily) Updated: 2013-01-23 15:07

Finance Minister Xie Xuren has called for greater efforts to manage local government debt during a tour to Hebei province, according to a statement on Monday.

He said there was a need to step up prevention of financial risks. He also noted the need for the gradual establishment of a financing mechanism for local governments. But he fell short of saying that local governments should be allowed to sell bonds or take bank loans directly.

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