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Another issue is a proliferation of debt-financed spending by local governments without adequate tax bases, often through "local government financing vehicles" that have long been regarded as a weak spot in China's markets.
Provinces have borrowed indirectly (and excessively) through financing vehicles.
These financing vehicles allow municipalities to circumvent central-government restrictions on direct borrowing.
This sector includes the liabilities of local government financing vehicles, Li said.
The funds invest in commercial paper issued for working capital by American corporations, financing vehicles for banks and municipal debt.
Virtually all of that debt belongs to their financing vehicles because Beijing prohibits local governments from borrowing cash themselves.
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Title X is the major federal financing vehicle for family planning programs.
He invented the euro dollar syndicated loan which came to be the dominant financing vehicle for governments.
The mortgages that have been sold were part of Granite – a financing vehicle set up by Northern Rock.
Each letter contains a series of questions about the structure and purpose of a specific Enron financing vehicle based offshore.
"We no longer view Fox as an independent operating company, but rather as financing vehicle" for the company, she wrote.
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