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China will take "much stronger" moves to curb illegal or irregular borrowing by local governments, to prevent debt growth that may spark systemic risks, a senior official with the Ministry of Finance told China Daily.
China will fully evaluate the "difficulties, risks, and uncertainties" brought by the contagion, and further stabilize its foreign trade, Gao said at a news conference.
China will phase in opening up of bank card clearing, remove restrictions on the operation scope of insurance agencies, and ease or cancel limits on foreign holdings in companies in banking, securities, funds, futures, and financial asset management.
China's central bank launched its first swap program on Wednesday to transform 1.5 billion yuan (3 million) of perpetual bonds into central bank bills, a measure to support recapitalization for commercial banks and cushion risks, according to an official statement.
China will expand cooperation with countries along the Mekong River in water resources, production capacity, agriculture and medical care as Premier Li Keqiang is scheduled to attend the second Lancang-Mekong Cooperation Leaders' Meeting during a two-day trip to Cambodia.
来源：资阳报