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China admits to disguised fiscal borrowing risk

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China’s finance ministry has acknowledged that public-private partnerships for infrastructure investment have become a vehicle for “disguised borrowing” by local governments, as Beijing targets systemic risk from rising regional debt. The central … ( read…

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The Conglomerate That Troubles China

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On a sweltering July afternoon in Beijing, two Bloomberg staffers set out to find Guan, who until recently controlled a stake in airlines-to-finance conglomerate HNA Group Co. that on paper was worth almost $18 billion.…

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