Reuters alone with details on Chinese local government debt

Reuters scooped the competition with details about Chinas closely watched local government debt problems on July 29. Reuters reporters learned from sources that Chinas bank regulator had determined that 40 percent of loans to local government financing vehicles would come due this year and next. They also reported that the regulator had decided to allow certain kinds of loans to continue, easing worries that some big projects would quickly run out of funds. Bloomberg picked up the story, citing Reuters, as did many Hong Kong newspapers and bank analyst reports.