China vows long-term strategy to resolve local debt risks

Officials stress need to strengthen Communist party control over China’s financial sector

Map of China

Chinese leaders pledged to set up a long-term mechanism to resolve local debt risks at a key financial meeting, while stressing the need to consolidate the Chinese Communist party’s control over the financial sector.

President Xi Jinping, premier Li Qiang and vice-premier He Lifeng spoke at the Central Financial Work Conference held in Beijing on October 30 and 31, according to the official Xinhua news agency.

The Central Financial Work Conference, previously known as the national finance work

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