China's Local Government Units Now Guarantee $842 Billion of Credit
- LGFV guarantees amount to 70% of their onshore bonds: Guosheng
- Private sector contingent liabilities more worrisome: Analysts
A commercial district in Kunming, Yunnan Province, China.
Photographer: Nelson Ching/Bloomberg
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Local government investment arms in China were once considered one of the country’s riskiest groups of borrowers and a time bomb in a creaky financial system.