Local governments in China may have accumulated as much as US$6 trillion in ‘hidden debts’, ratings agencies have warned. Photo: Simon Song
China has US$6 trillion in hidden debts with ‘titanic’ credit risks, S&P says
Ratings agencies warn of a ‘debt iceberg’ accumulated by local governments as Beijing tries to curb unauthorised borrowing
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China economy
Local governments in China may have accumulated as much as US$6 trillion in ‘hidden debts’, ratings agencies have warned. Photo: Simon Song