China Reviews Debt Swap Plan as Top Legislature Meeting Begins.

China's top legislative body is considering a proposal to transfer some off-balance-sheet debt of local governments to their official accounts, potentially increasing the borrowing limit for the first time since 2015. The move aims to alleviate the financial burden on local officials and stimulate the economy. Analysts are divided on whether additional fiscal measures will be announced, with some suggesting that Beijing may wait until after the US presidential election to reveal more policies. The debt swap program is part of a larger effort to address risks from local government debt, estimated at around 60 trillion yuan, and could free up cash for local governments to fund various needs. [Extracted from the article]