SHANGHAI: China is stepping up restrictions on financing to local government financing vehicles to mitigate risks from hidden debt, the official Securities Times reported on Monday .
In future, banks and insurers will refrain from providing fresh liquidity to those platforms that enjoy implicit guarantees from local governments, and will prevent hidden debts from increasing, the report said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China sends supplies to flooded area in Henan province, rebuilds barriersChina sends supplies to flooded area, rebuilds barriers
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Myanmar rebel group says it received COVID-19 vaccines from ChinaBANGKOK: China has supplied more than 10,000 COVID-19 vaccines to a Myanmar rebel group operating near its southern border, its spokesman said on ... But it's for Terrorists Army not for Citizens. Safest vaccines
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China forces tutoring companies to go non-profitBEIJING: China is forcing after-school tutoring companies to register as non-profits and banning classes on weekends and holidays, according to ... From now on all tutor fees will be called admin fees. Very good. The govt is cleaning up the whole industry, ensure that the parents are not stress financially n students not under pressure to learn things that r beyond their age group. Good free content should be made availble to all students, rich or poor a fair chance. Government can help by giving subsidy to lower income families whose household income is less than a certain figure, give intensive to parents getting second or third child. To get companies on non profit is a bad idea for it's business not charity... seriously!
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China braces for Typhoon In-Fa as it cleans up flood damageChina shut down ports and railways on Saturday as it braced for Typhoon In-Fa as parts of the country struggled to recover from devastating floods ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Gymnastics-China and Russia put down early medal markersChina and Russia, two of Tokyo's top Olympic medal contenders in men's artistic gymnastics, put down markers on Saturday, dominating the first of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China reports 32 new COVID-19 casesBEIJING: China reported on Sunday (Jul 25) 32 new COVID-19 cases in the mainland on Jul 24, down from 35 cases a day earlier, the national health ... only 32. Pfizer vaccine is only 39% effective. Singapore got more LOL ....1.4B people 32 cases shouldnt be in the news at all
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »