Longer repayment terms and lower interest rates seen as a way out of financial mess
The People’s Bank of China has issued orders to major state lenders to extend terms, adjust repayment plans and reduce interest rates of outstanding loans to local governmenr financing vehicles, according to knwledgeable sources. (Photo: Bloomberg)
BEIJING – China has told state-owned banks to roll over existing local government debt with longer-term loans at lower interest rates, two sources with knowledge of the matter said, as part of Beijing’s efforts to reduce debt risks in a…
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