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Local governments’ funding difficulties hold back infrastructure investment growth


China's infrastructure investment slowed sharply last year, but many expect it to pick up this year to help reverse the economic slowdown amid a bitter trade war with the United States.

However, industry insiders say it may not happen soon as China's local governments are facing shortage of funding after their ability to raise funds was weakened by Beijing’s clampdown on government hidden debt.

"In the past, money waited for projects, but now, projects are waiting for . . .

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