Local governments on the mainland are facing challenges including slower growth in fiscal revenues, closer regulatory scrutiny, tighter bank lending and sliding land sales revenues. Photo: AFP
China moves to ease local government debt burden
Regional authorities can convert up to 1tr yuan worth of high-cost debt into lower-yield bonds
Local governments on the mainland are facing challenges including slower growth in fiscal revenues, closer regulatory scrutiny, tighter bank lending and sliding land sales revenues. Photo: AFP
