HONG KONG/SHANGHAI -- China's top legislature on Friday said it will increase the limit of local government bonds to replace hidden debt, bringing the total value of the program to 10 trillion yuan ($1.4 trillion) and taking another step to reinvigorate the world's second-largest economy.
Economy
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The Great Hall of the People in Beijing. China's top legislature has extended support for cash-strapped local governments as it strives to reach this year's economic growth target. (Photo by Mizuho Miyazaki)
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