China Said to Mull Doubling 1t Yuan Local-Debt Swap ProgramBloomberg News
China’s Ministry of Finance may set additional quota of 500b-1t yuan for local governments to swap debt into municipal bonds, according to people familiar with the matter.
- Plan needs State Council approval, according to the people, who asked not to be identified because deliberations are private
- Finance ministry said March 8 govt would permit as much as 1t yuan of high-yielding debt to be converted into municipal bonds
- Finance minsitry doesn’t immediately respond to faxed
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