Moody's calls transparency key to success
By Zheng Yangpeng | China Daily | Updated: 2014-07-01 07:38
Debt | Zheng Yangpeng
China has taken important steps that will lead to greater financial accountability on the part of local governments.
It selected 10 provinces and cities in May to issue municipal bonds independently and assume responsibility for servicing that debt. It's the first time local governments in China have been able to do that.
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