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

TOP PICKS

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
READ FULL ARTICLE
Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.