Of course, curbing future debt accumulation is also vital to China’s long-term prosperity. That is why China must reduce local governments’ dependence on banks to meet their financing needs, by nurturing bond and equity markets.
当然，遏制未来债务积累对中国的长期繁荣也很关键。因此，中国必须通过培育债券和股票市场来降低地方政府对通过银行满足融资需求的依赖。