1st LD-Writethru: China's top legislature approves bill to raise local gov't debt ceiling

NAMPA / Xinhua

2024-11-08

BEIJING, Nov. 8 (Xinhua) -- Chinese lawmakers have approved a State Council bill on raising the ceiling on local government debt by 6 trillion yuan (about 840 billion U.S. dollars) to replace existing hidden debts, according to a press conference on Friday. Xu Hongcai, deputy head of the financial and economic affairs committee of the National People's Congress (NPC), China's top legislature, revealed the approval to the media after the Standi......

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