China Considers Boosting Local Government Borrowing Limits

China's parliament standing committee is reviewing a proposal to increase the local government debt limit to address hidden debt issues, as local authorities face financial challenges due to declining revenue from land sales. Finance Minister Lan Fo’an discussed the plan, which could involve approving an additional 10 trillion yuan in debt quota over the next few years. This move is part of broader fiscal support measures expected to be approved to bolster China's slowing economy.