- China will allow 10 local governments - including in Shanghai and Beijing - to sell bonds as part of a pilot scheme as the government looks to clean up an estimated $3T of public debt.
- Until now, municipalities weren't allowed to borrow, so the central government would do it for them, or they would use opaque vehicles that would take loans on their behalf. That has created uncertainty about the size of the debt and the soundness of municipal finances.
- ETFs: FXI, PGJ, GXC, FXP, YINN, CYB, CNY, DSUM, YANG, MCHI, XPP, YAO, YXI, FXCH, CHXF, FCA, CHLC, TCHI, CN
at MarketWatch.com (Jan 12, 2015)