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

Topic |   China economy

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Local governments in China may have accumulated as much as US$6 trillion in ‘hidden debts’, ratings agencies have warned. Photo: Simon Song
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Orange Wang

Orange Wang

Orange Wang covers the Chinese macroeconomy, and has many years of experience with China's monetary and fiscal policy moves. He also covered global market and financial news for a long time, with a particular focus on new technologies and their influences on economic growth and society. Before joining the South China Morning Post, Orange worked as a Shanghai Correspondent for ET Net, a Hong Kong financial news agency.