HONG KONG -- The centralization of Chinese financial regulation unveiled at this year's National People's Congress strikes many investors as sign of Beijing's concern about the big debts piled up by local governments and their off-budget funding vehicles.
The regulatory changes in China come as President Xi Jinping is placing loyalists into key government positions. (Source photos by Getty Images and Yusuke Hinata)
Market Spotlight
China's debt issues loom as Beijing revamps financial regulation
Changes could make it harder for local governments to borrow, analysts say
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