The finance ministry is elevating its oversight of government debt as it works toward a 2027 deadline to eliminate hidden liabilities
Published: Sep. 29, 2025 6:39 p.m. GMT+8, Updated: Sep. 29, 2025 6:39 p.m.
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Market attention shifts to harder-to-resolve LGFV debt ahead of 2027 deadline
Resolving LGFVs’ sprawling operational debts is running into complications, partly in the form of a tangle of high-interest,…
Some regions artificially reduced balances by simply deleting records from the debt management system, the country’s top auditor…
Ultra-long bonds, tax changes and tighter debt oversight anchor fiscal strategy as growth remains uneven
Resolving LGFVs’ liabilities is running into complications, with high-interest, noncompliant debt banks are reluctant to touch
Local authorities turned to heavy borrowing after the 2008 financial crisis, forcing Beijing to take action.
