The government approved local governments to issue bonds worth 1.39 trillion yuan (US$202 billion), made up of 810 billion yuan (US$117.82 billion) in the special purpose bonds, and the remaining 580 billion yuan in general bonds. Photo: AP

Can China walk out of economic difficulties by relying on its old playbook of debt?

  • China’s National People’s Congress Standing Committee authorities a new wave of infrastructure bond issuance worth US$202 billion ‘ahead of schedule’
  • A surge in local government debt may complicate Beijing’s long-term goal of reining in financial risks
Topic |   China economy

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The government approved local governments to issue bonds worth 1.39 trillion yuan (US$202 billion), made up of 810 billion yuan (US$117.82 billion) in the special purpose bonds, and the remaining 580 billion yuan in general bonds. Photo: AP
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