Caixin OnlineFinance & EconomicsTop Stories Finance Gov't Financing through Shadow Banking System Restricted
01.04.2013 17:47

Gov't Financing through Shadow Banking System Restricted

Local governments seeking to build public infrastructure projects banned from raising funds through trusts and buy-back contracts
By staff reporters Chen Fashan and Yang Na

(Beijing) -- Four central government ministries have issued rules intended to regulate local governments' financing of infrastructure projects, mainly targeting fund-raising in the growing shadow banking system.

According to a notice published by the Ministry of Finance, the National Development and Reform Commission, the central bank and the China Banking Regulatory Commission, local governments are banned from raising funds from the public and through buy-back contracts.

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Ammonia in the Haze
Farms and cars are contributing to rising levels of ammonia gas in the country, but the impact on air pollution is still hazy
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