第七段: Many local governments appear to be preparing for a financial storm. Liuzhou has used an estimated 20bn yuan in public funds to make up a capital shortfall at Dongtong Investment and Development Group, a vehicle that was downgraded in August by Fitch, another rating agency. An LGFV ...
China's overall government debt ratio remains low compared with other major economies, and the country's local government bond debt risk is controllable, as a strong economic rebound provides support for local government financing vehicles' (LGFVs) debt repayment capability, analysts said.The ...
There is therefore a tendency for the fiscal burden to be shifted from the central government to the local governments. Resolving China's local government debt problem requires not only strengthening regulation, but also abandoning the central government's fiscal balance target, because this target ...
Decentralization, Supervision, and Chinese Local Government Debt Decentralization can alter the incentive structure of local governments and one outcome of this is debt accumulation. Based on the 鈥淧rovince鈥怣anaging鈥怌ounty鈥pilot policy, a fiscal decentralization reform devolving fiscal power fro.....
Ever longer delays in bills being paid is creating a chain of squeezed cashflow and debt that runs from large state owned enterprises through to smaller suppliers and even employees struggling to pay their own bills. 这是一个恶性循环,而且有可能危及经济健康。付款周期越来越长,正在形成连环的现金...
BEIJING, Jan. 17 (Xinhua) -- The balance of local government debt stood at 16.5 trillion yuan (2.6 trillion U.S. dollars) by the end of 2017, below the government ceiling of 18.8 trillion yuan, official data showed Wednesday. China's local governments raised 4.4 trillion yuan through debt...
BEIJING, June 11 (Xinhua) -- Debt swap deals for local governments in China should not be misread as a Chinese version of quantitative easing (QE), a high official of the central bank told Xinhua on Thursday. The statement came a day after the country's finance ministry announced it had...
YMCI’s failed attempt to expand even more appears to be the result of changes in policy. As the local debt problem started to present a major threat to the country’s financial stability, China’s central leadership rolled out policies to curb local governments’ addiction to borrowing. In ...
Asian Infrastructure Investment Bank, Professor Michael Pettis, professor of finance, Guanghua School of Management at Peking University in Beijing, andKeith Bradsher, Beijing bureau chief, The New York Timeswill walk through the debt problem faced by...
Using a problem-oriented approach, NAO selected and audited cities and counties in 16 provinces where government debts increased considerably. Although there was an 87 percent growth in debt balance that the local governments have committed to repay with public funds, and some counties and the weste...