China Bolsters Communist Party Control Over Finance to Tackle Debt Risks
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China will increase Communist Party leadership over the financial industry and strengthen efforts to reduce local debt risks.
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A new mechanism will be set up to resolve local debt issues and manage local government debt.
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Policies will aim to meet housing demand and provide financing to property enterprises.
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Financial regulation will be tightened to prevent systemic risks from the property slump and high local government debt.
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Reforms over the next 5 years will further centralize financial regulation under the Communist Party's Central Financial Commission.