By the end of last year, combined debt of central and local governments in China stood at 27.33 trillion yuan (about 3.96 trillion U.S. dollars), with the debt-to-GDPratio at around 36.7 percent, Xiao said, adding there won't be big changes in the ratio this year. Compared to interna...
Meanwhile country's corporate debt hit a record $12 trillion at the end of last year, Standard & Poor's estimated, equivalent to 120 percent of GDP. China's debt to GDP level is still lower than other major world economies, however. The U.S. had a total debt-to-GDP ratio of about...
Key information about China Government Debt: % of GDP China Government debt accounted for 24.6 % of the country's Nominal GDP in Jun 2024, compared with the ratio of 24.0 % in the previous quarter. China government debt to GDP ratio data is updated quarterly, available from Mar 2014 to ...
China’s official government debt as a proportion of GDP surged 19% last year as the authorities authorized billions of yuan of spending to help the economy recover from the impact ofthe Covid-19 pandemicand extended tax and fee cuts.
Liu said that risks are so far "generally controllable," as the ratio of China's government debt balance to GDP is lower than the internationally accepted warning line of 60 percent, and is also lower than the levels of major market economies and emerging market countries. ...
Since September, China has unveiled a series of measures to boost the economy. These include cuts in the market-based benchmark lending rates and banks' reserve requirement ratios, and a package of 10 trillion yuan in new fiscal funding to address local government debt risks. A trade-in progr...
Meanwhile, the country will address both the symptoms and root causes to defuse risks in real estate, local government debt, and small and medium-sized financial institutions to safeguard overall economic and financial stability, the report said. ...
We believe this measure is aimed at managing the country's large local government debt levels. However, the many domestic and international investors that have invested in SOE bonds may get left in the lurch. The move to fiscal conservatism will happen gradually, and only ...
Local Government DebtRegional CompetitionGovernment InvestmentChinese EconomyThe GDP tournament among local governments plays a crucial role in supporting China's growth miracle. Investment-driven economic growth has led to a surge in local government debt in the past decade. To understand the ...
Since September, China has unveiled a series of measures to boost the economy. These include cuts in the market-based benchmark lending rates and banks' reserve requirement ratios, and a package of 10 trillion yuan in new fiscal funding to address local government debt risks. A trade-in progr...