EVENT INFORMATION

8
November
2024

NPC approves a 6-trillion-yuan local-debt swap ceiling

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๐Ÿ“… 8 November 2024 ๐Ÿ“ China

The legislature authorized additional local-government bonds to replace hidden debt, alongside a multi-year plan using special bonds. The measure aimed to lower near-term repayment pressure and stabilize public services, but mainly restructured liabilities rather than resolving the fiscal dependence of local governments on land and borrowing.

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People in this event

Lan Foโ€™an

local governments

Organizations in this Event

National Peopleโ€™s Congress

Ministry of Finance