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Chinese regulator encourages foreign banks to underwrite local government bonds

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China's Ministry of Finance said it encourages provincial governments to give overseas banks more leeway to underwrite local government bonds, part of its efforts to open up the country's financial markets.

The ministry said that restrictions will be removed for foreign banks to participate in the underwriting of local government bonds and it will guide local authorities in revising the rules under which they assemble bond underwriting groups to help boost foreign participation, according to . . .

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