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

Orange Wang

Published: 8:58pm, 16 Oct, 2018

Updated: 2:07pm, 18 Oct, 2018

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 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.