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In Depth: China’s ATMs for Infrastructure Spending Get Squeezed, Again

By Zhang Yuzhe, Wang Juanjuan, Cheng Siwei and Tang Ziyi
2022年07月08日 21:43
Even as local authorities face growing pressure to spend more on infrastructure, LGFVs are facing another crackdown
pictureA residential construction site in Hefei, Anhui province, on July 7. Photo: VCG

The screws are tightening once again on China’s local government financing vehicles (LGFVs) even as pressure on them grows to help fund the country’s infrastructure stimulus, adding to concerns that debt defaults will increase and further strain cash-strapped local authorities.

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