A look beyond headline growth figures reveals how provinces are relying on the monetization of state assets to fill in the gaps in their budgets
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Analysis: China’s Local Fiscal Recovery Hides Scramble to Plug Budget Holes
A look beyond headline growth figures reveals how provinces are relying on the monetization of state assets to fill in the gaps…
Debt resolution, weak land revenues and falling infrastructure funds show that local governments are no longer driving expansion…
Recovering producer prices boost tax receipts while weak land sales continue to pressure local finances
Early surge in budget outlays contrasts with weak revenue growth
Resolving LGFVs’ liabilities is running into complications, with high-interest, noncompliant debt banks are reluctant to touch
Resolving LGFVs’ sprawling operational debts is running into complications, partly in the form of a tangle of high-interest,…
