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China issues stricter rules for insurers to mitigate local government debt risks

( January 18, 2018, 09:45 GMT | Official Statement) -- MLex Summary: China's central government has taken a step towards strengthening regulation of local governments' borrowing practices in a bid to fend off related debt risks. According to a recent notice issued jointly by the China Insurance Regulatory Commission and the Ministry of Finance, insurers are strictly prohibited from providing illegal financing services to local governments and local government financing vehicles.(Summary continues)...

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