china debt

As it happened: China’s ‘two sessions’ 2024 – Beijing defends realistic GDP goal, vows to crack down on financial market irregularities

by
As it happened: China’s ‘two sessions’ 2024 – Beijing defends realistic GDP goal, vows to crack down on financial market irregularities

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing in our spring flash sale. China’s finance and commerce ministers, as well as the heads of the People’s Bank of China, National Development and Reform Commission and China Securities Regulatory Commission, met the press … Read more

China’s LGFV insiders say $9 trillion debt problem is worsening

by
China’s LGFV insiders say $9 trillion debt problem is worsening

China is attempting to defuse risks from its $9 trillion pile of off balance-sheet local government debt, without resorting to major bailouts.That path forward is a treacherous one for President Xi Jinping’s government. To thread the needle, the provinces and cities whose borrowing drove the world’s largest infrastructure boom will need to roll back their … Read more