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What will be the outcome of China's NPC decision on raising local government debt limits by end of 2024?
3
Resolution / Starting Odds
Approved • 33%
Rejected • 33%
Postponed • 34%
Official announcements from China's National People's Congress or Xinhua News Agency
Story
China NPC Reviews Proposal to Raise Local Govt Debt Limits: Xinhua
Nov 4, 2024, 10:07 AM
China's National People’s Congress (NPC) Standing Committee is currently reviewing a proposal by the State Council to raise local government debt limits. This move aims to replace existing 'hidden debts' with formal liabilities. The 12th session of the 14th NPC Standing Committee is addressing this issue to help resolve some of the trillions of dollars of debt weighing down China's cash-strapped local governments. Finance Minister Lan Fo’an has previously promised measures to alleviate this financial burden. The review was reported by Xinhua.
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Increased significantly • 25%
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35.52 trillion yuan • 25%
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