Some regions artificially reduced balances by simply deleting records from the debt management system, the country’s top auditor says
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Some local governments in China have used deceptive tactics to mask billions of yuan in hidden debt, undermining Beijing’s sweeping campaign to defuse financial risks, the country’s top auditor revealed.
Resolving LGFVs’ sprawling operational debts is running into complications, partly in the form of a tangle of high-interest,…
Resolving LGFVs’ liabilities is running into complications, with high-interest, noncompliant debt banks are reluctant to touch
Market attention shifts to harder-to-resolve LGFV debt ahead of 2027 deadline
A look beyond headline growth figures reveals how provinces are relying on the monetization of state assets to fill in the gaps…
Local authorities turned to heavy borrowing after the 2008 financial crisis, forcing Beijing to take action.
Emergency bonds, bank restructurings and central bank liquidity helped rein in risky local debt
Bank of China accused of exploiting tax preferences to avoid paying US$348m
China narrows fiscal deficit for first time in two years, and crypto markets should pay attention
Auditors face harsher penalties as China intensifies fraud campaign
Auditors face harsher penalties as China intensifies anti-fraud campaign
