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LGFVs: to default, or not default? Ask Beijing

Ray Chan
A missed payment on a Rmb500 million local government debt spooks investors. Now they're waiting anxiously to see what happens next.
LGFVs: to default, or not default? Ask Beijing

China’s recent shift towards short-term monetary loosening has failed to arrest a default on a local government debt vehicle in the western province of Xinjiang, renewing concerns over Beijing’s determination to contain systemic risk.

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