Chinese authorities have allowed asset management companies to acquire matured debt that local government financing vehicles (LGFVs) are unable to repay, in a move to dissolve risks from local governments' hidden debt, according to the 21st Century Business Herald.
"The debt obligations can be transferred to asset management companies (AMCs) through debt restructuring in a market-oriented way and the process should comply with relevant laws and regulations," according to the report, citing people from a local . . .
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