China’s Central Banks Step Up to Avert Credit Crunch: Offering 25-Year Loans to LGFVs
China Banks Offer 25-Year Loans to LGFVs to Avert Credit Crunch China’s Solution to the Credit Crunch Issue China’s biggest state banks are offering local government financing vehicles (LGFVs) loans with ultra-long maturities and temporary interest relief to prevent a credit crunch amid growing tension in the $9 trillion debt market. Banks have started to…