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China says some local govts providing illegal guarantees for borrowings
February 23, 2017 / 10:27 AM / 10 months ago

China says some local govts providing illegal guarantees for borrowings

BEIJING, Feb 23 (Reuters) - China’s finance ministry said on Thursday that some city and county-level governments are illegally providing guarantees for borrowing by related entities.

China will stop these illegal activities, the Ministry of Finance said in a notice on its website, and strictly control local government debt risks. (Reporting by Beijing Monitoring Desk; Editing by Jacqueline Wong)

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