Offshore debt issuances by China's local governments come under regulatory scrutiny

Offshore debt issuances by China's local governments come under regulatory scrutiny

FILE PHOTO: Chinese Yuan banknotes are seen in this illustration picture taken June 14, 2022. REUTERS/Florence Lo/Illustration/File Photo

Chinese regulators are inspecting the use of a cross-border mechanism to invest in debt-laden local governments’ offshore bonds, two sources said, indicating a ramping up of efforts to contain financial risks in a loosely regulated part of the market.

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