China clamps down on firms issuing high-yield offshore bonds amid $100bn debt pile
Chinese authorities are discouraging companies from raising money offshore at higher yields as part of a broader clampdown on risks among municipal borrowers carrying more than $100 billion in overseas bond debt. The move is the latest regulatory step aimed at curbing financial risks in China's local government financing sector. Officials want to prevent the country's offshore debt pile from growing further at elevated rates.
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