INTRO: China's top legislative body, the standing committee of the National People's Congress (NPC), approved a bill on raising ceilings on local government debt.
China will let local governments issue an additional $837 billion in bonds to swap for off-balance sheet or "hidden" debt over three years, an official said on Friday.
China will let local governments issue an additional $837 billion in bonds to swap for off-balance sheet or "hidden" debt over three years, an official said on Friday.