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在线翻译:
szdaily -> Markets -> 
Tianjin property firm defaults on trust loans
    2018-05-03  08:53    Shenzhen Daily

A PROPERTY firm owned by Tianjin’s municipal government has defaulted on two trust loans worth a combined 500 million yuan (US$80 million), a creditor said, the second known default of off-balance sheet loans by a local government.

Tianjin Municipal Development Co. missed repayments on loans that should have been made before April 14, Guotong Trust said Sunday.

The Central Government has been trying to rein in local government debt amid concerns that financing vehicles used by local governments throughout China may start to default this year.

The first known case of a default this year was by Yunnan State-Owned Capital Operation Co., fully owned by Yunnan’s provincial government’s State asset regulator, which later received 2 billion yuan in additional equity capital from the provincial government to repay its loans.

Thousands of financing vehicles have been created by local governments in recent years to fund large State-driven projects. (SD-Agencies)

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