📉🚨 China's local government debt risks spark concern as state-run investor, National Council for Social Security Fund, advises asset managers to sell some bonds, including those from riskier local government financing vehicles (LGFVs). Such a move aims to protect investment value, but could also heighten market concerns about the health of LGFVs and developers. With over $9 trillion of debt held by LGFVs, this growing concern could impact China's economic growth in the coming years. 💬💡Share your thoughts on this development in the comments section below!