Delegating approvals to provinces has accelerated fundraising, but a flaw in local government financing lingers
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In Depth: Repayment Question Looms as China Speeds Up Special Bond Issuance
Delegating approvals to provinces has accelerated fundraising, but as interest costs hit record highs, a fundamental flaw in…
Resolving LGFVs’ liabilities is running into complications, with high-interest, noncompliant debt banks are reluctant to touch
Shanghai and Shenzhen’s new “three red lines” have slowed issuance by district- and county-level LGFVs, leaving weaker players…
Ultra-long bonds, tax changes and tighter debt oversight anchor fiscal strategy as growth remains uneven
A look beyond headline growth figures reveals how provinces are relying on the monetization of state assets to fill in the gaps…
As the era of land-based finance fades, Beijing must ramp up special-purpose bonds and policy tools to plug a widening government…
