> China to raise local govt debt ceiling to boost economy / 36LU2DV
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China to raise local govt debt ceiling to boost economy / 36LU2DV
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China says lawmakers had agreed to raise the local government debt ceiling by $840 billion, opening up new funds for its ailing economy.
"This six trillion yuan debt ceiling will be arranged over three years," finance minister Lan Fo'an tells a press conference in Beijing. SOUNDBITE