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Shanghai, Guangdong debt pilot programmes aim to reduce China’s hidden local government liabilities

Summary:
[unable to retrieve full-text content]Two of China’s wealthiest regions have set up pilot programmes aimed at eliminating so-called hidden local government debt, but questions have been raised over how much can be done amid rising risks that Beijing may be forced to step in and bail out authorities.Last month, the financial city of Shanghai and the southern manufacturing powerhouse province of Guangdong signalled local governments are keen to tackle their mounting debt by launching trials to clean up off-budget lending.Debt issued…

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[unable to retrieve full-text content]
Two of China’s wealthiest regions have set up pilot programmes aimed at eliminating so-called hidden local government debt, but questions have been raised over how much can be done amid rising risks that Beijing may be forced to step in and bail out authorities.Last month, the financial city of Shanghai and the southern manufacturing powerhouse province of Guangdong signalled local governments are keen to tackle their mounting debt by launching trials to clean up off-budget lending.Debt issued…

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