China Reviews Plan to Refinance Local Governments' Hidden Debt [Yahoo! Finance]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Yahoo! Finance
Most Read from Bloomberg Istanbul Tries Free Public Transit to Help Job Seekers The Answer To Making Cities More Family-Friendly? Courtyards Is Denver's Big Bet on E-Bikes Paying Off? In Warsaw, Falling Road Deaths Signal a Traffic Safety Turnaround Chicago Mayor Seeks Property Tax Hike, Breaking Campaign Vow The National People's Congress Standing Committee held a meeting on Monday morning, where it discussed a plan to lift local governments' debt ceiling to swap out their hidden debt, according to the official Xinhua News Agency. Investors are closely watching the legislative meeting from Nov. 4-8 for signs of new stimulus measures to revive the world's second-largest economy. Economists expect lawmakers to approve a program to swap so-called hidden debt over several years, with forecasts ranging from about 6 trillion to 10 trillion yuan. The move was telegraphed by Finance Minister Lan Fo'an, who announced last month that China would soon launch its biggest effort
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