Prohibiting local govts bond issues is damaging to China - opinion

At a time when China’s local governments are starved of long-term funding options, banning the ability to directly issue their own debt is highly detrimental.

  • 29 Jun 2012

Despite all the positive momentum that China has created in the development of its onshore bond market in 2012, regulators took a damaging step backwards this week in barring local municipalities from issuing their own debt.

Their decision will undoubtedly impair the country if it is not reversed.

China’s ...

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