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China debt: local government spending under microscope to protect national economy from ‘systemic risk’

Summary:
[unable to retrieve full-text content]The Chinese leadership regards the prevention of implicit local government debt risks as an “important political discipline and rule”, implying that there are plans for more forceful measures to defuse the debt bomb and lower its potential threat to the world’s second-largest economy.It is also Beijing’s answer to lingering calls for expansionary policies, particularly the launch of new projects, highlighting its intention to shift away from an investment-driven growth model.The requirement was…

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[unable to retrieve full-text content]
The Chinese leadership regards the prevention of implicit local government debt risks as an “important political discipline and rule”, implying that there are plans for more forceful measures to defuse the debt bomb and lower its potential threat to the world’s second-largest economy.It is also Beijing’s answer to lingering calls for expansionary policies, particularly the launch of new projects, highlighting its intention to shift away from an investment-driven growth model.The requirement was…

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