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China announces new debt-swap quota for local govts

Updated: Jun 10,2015 6:11 PM     Xinhua

BEIJING — China moved to regulate local government debts with the launch of another 1 trillion yuan ($163.9 billion) debt-swap deal for local debt on June 10, the second time it has done so this year.

The Ministry of Finance (MOF) launched a 1 trillion yuan debt-swap deal in March.

Two trillion yuan has been channeled into the deal.

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