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China announces $1.4 trillion over five years to tackle local governments' hidden debt

By NBC News   |   Nov 8, 2024 at 04:24 AM EST
China announces $1.4 trillion over five years to tackle local governments' hidden debt

China announced an allocation of 6 trillion yuan to help local governments address hidden debt issues. The plan, effective until 2026, aims to reduce hidden debt from 14.3 trillion yuan to 2.3 trillion yuan by 2028.

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