皇冠体育app

- 皇冠体育app's central bank said Thursday that it will work with other authorities to investigate and close down incompetent financing companies run by local governments.

Companies with bad credit, confusing services or unsustainable debt will be closed to prevent financial risks, said the People's Bank of 皇冠体育app at a conference about financial market and credit policies.

Wary of the hefty debts accumulated by its local governments over the years and the potential huge risks associated with it, 皇冠体育app's central government is moving to officially allow local governments to issue bonds.