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$404b in local govt bonds set to mature

Around 2.5 trillion yuan worth ($404 billion) of local government bonds will mature next year, according to a report on Tuesday by the Economic Information Daily quoting Moody's statistics. Debt interest expenditure accounted for over 50 percent of the country's new social financing in 2014, which severely affects the quality of economic operation and transmission of monetary policy.

Outstanding QFII quota rises to $65.7 billion