March 30, 2018 / 10:51 AM / 4 months ago

China's Finance Ministry to regulate local govt', state firm financing

BEIJING, March 30 (Reuters) - China’s Finance Ministry said on Friday state-owned financial firms cannot provide new loans for financing vehicles of local governments, in a further effort to regulate irregular financing activities undertaken by local governments and state firms.

Investment funds set up by state-owned financial firms and local governments also cannot ask for or receive guarantees on their loans, the ministry said in a statement posted on its website. (Reporting by Beijing Monitoring Desk Editing by Edmund Blair)

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