China vows to lower government leverage ratio this year, urges all levels of local governments to reduce debt levels

 

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China's State Council, the cabinet, urges all levels of local governments to lower their debt levels at a meeting on Monday, as Beijing moves to address the fiscal risks that arose last year when policymakers boosted spending and cut taxes to support the coronavirus-hit economy.

In 2021, China will keep the macro leverage ratio basically stable, and appropriately lower the government's leverage ratio, the cabinet said.

“Governments at all levels must . . .

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