China Weighs $853 Billion Debt Swap to Rescue Local Governments
- Local bonds said to be issued through 2027 as part of stimulus
- Finance minister previously vowed largest debt swap in years
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China is considering allowing local authorities to issue as much as 6 trillion yuan ($853 billion) in bonds through 2027 mainly to refinance their off-balance-sheet debt, people familiar with the matter said, a key part of the government’s plan to shore up the world’s second-largest economy.
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