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China vows to coordinate support to resolve local government debt risks

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Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/ File Photo Acquire Licensing Rights BEIJING, Aug 20 (Reuters) – China will coordinate financial support to resolve local government debt problems, the central bank said in a statement on Sunday, as policymakers look to shore up an increasingly shaky economic recovery and reassure worried investors. The statement, following a joint meeting on Friday by the People's Bank of China (PBOC), the country's top financial regulator and the securities regulator, comes amid growing concerns that China's deepening property crisis is…

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