One individual gamed the murky system of structured bonds to raise billions for local governments, with regulators now scrambling to eradicate the practice that could help derail the economic recovery
China is doubling down on stymying the murky fund raising practices in the structured bond market that is exploited by shady fund managers and risky borrowers, as the government steps up efforts to tackle the debts amassed by local government financing vehicles (LGFV), which by some estimates have ballooned to 50% of the nation’s GDP……………
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