Xi's deleveraging zeal hits China local govt funding plans

At least a dozen local government financing vehicles, or LGFVs, have hit the brakes on their offshore debt sales as investors fret about the rising default risks.
May 09, 2018

It's practically a year since President Xi Jingping launched China's deleveraging campaign and the ripple effects are being felt in overseas primary bond markets, with Chinese local-government financial vehicles (LGFVs) in particular reining in their debt-funding plans.

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