1 rich Libsyn https://www.libsyn.com 90 600 Culture-and-tourism investment companies emerge as a new financing channel for localities, but&amp;nbsp;diverted funds and undistinctive projects leave many operating like LGFVs and facing the same financial pressures. Note:&amp;nbsp;The conversation segment of this episode&amp;nbsp;was generated using AI and has been edited for accuracy. It is based on this&amp;nbsp;Caixin story: In Depth: Chinese Local Governments Risk Replicating Mistakes of LGFVs Subscribe now to unlock all coverage from Caixin Global and The Wall Street Journal for just $200 a year, enjoying a 66% discount.&amp;nbsp; Group discounts are available&amp;nbsp;—&amp;nbsp;contact us for a customized plan. China Business Insider - News From Caixin Global https://www.caixinglobal.com/audio/ <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/39092110/height/90/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/88AA3C/" height="90" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/item/39092110