Local govt loan risks manageable

10:04, August 20, 2010      

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China Thursday played down the risks involved in a wave of borrowing by local governments, saying banks had prepared adequately for some of the loans to turn sour by setting aside a high level of provisions.

A statement issued by the Ministry of Finance and the China Banking Regulatory Commission said they were working on a longer-term mechanism to standardize fund raising and debt management by local governments.

Source: Global Times

(Editor:黄蓓蓓)

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