Xi's deleveraging zeal hits China local govt funding plans

At least a dozen local government financing vehicles, or LGFVs, have hit the brakes on their offshore debt sales as investors fret about the rising default risks.

Ray Chan

May 09, 2018

It's practically a year since President Xi Jingping launched China's deleveraging campaign and the ripple effects are being felt in overseas primary bond markets, with Chinese local-government financial vehicles (LGFVs) in particular reining in their debt-funding plans.

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