City investment bonds 'should be allowed to default'
By Wei Tian | China Daily | Updated: 2013-07-01 08:02
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City investment bonds, issued by city investment companies set up by local governments, serve as a major financing tool for local governments in their public projects. Provided to China Daily |
China's local authorities should allow regional defaults on their city investment bonds to cool down the enthusiasm of investors and ease the mounting risks, an expert with a top government think-tank said.
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