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China’s provinces fall deeper into local government debt mire, study finds

Summary:
[unable to retrieve full-text content]The debt problem for all but one Chinese provinces is worsening as local authorities continue to rely on borrowings to finance big-ticket spending programmes, according to a joint review of local government finances.The review revealed that with the exception of the hinterland province of Shaanxi, debt ratio, measured as outstanding debt to local GDP, rose in 30 of 31 mainland provinces as of the end of June 2020.The assessment was released in the Local Government Bond Blue Book 2021, jointly…

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[unable to retrieve full-text content]
The debt problem for all but one Chinese provinces is worsening as local authorities continue to rely on borrowings to finance big-ticket spending programmes, according to a joint review of local government finances.The review revealed that with the exception of the hinterland province of Shaanxi, debt ratio, measured as outstanding debt to local GDP, rose in 30 of 31 mainland provinces as of the end of June 2020.The assessment was released in the Local Government Bond Blue Book 2021, jointly…

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