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The Standing Committee of the National People's Congress approved an increase of 6 trillion yuan in local government debt limits

The Standing Committee of the National People's Congress approved an increase of 6 trillion yuan in local government debt limits

CointimeCointime2024/11/08 08:33
By:Cointime

 14th Standing Committee of the National People's Congress passed the largest debt-to-equity swap measure in recent years today (8th), increasing the local government debt limit by 6 trillion yuan to replace existing hidden debt, freeing up space for local governments to better develop the economy and ensure people's livelihood.

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