China will allow local governments to issue bonds directly for the first time in 17 years as Beijing acts to prevent potential defaults by provincial and city-level administrations that could wreak havoc in the country’s financial sector.
中國將允許地方政府17年來首次自行發債,此舉旨在防止省市級地方政府違約,對本國金融部門造成嚴重破壞。
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