By the end of February, local governments had issued 307.8 billion yuan (US$46 billion) of special-purpose bonds, the majority of which will be used for high-profile infrastructure projects. Photo: Xinhua

China to prevent increase in ‘generally controllable’ hidden debt for cash-strapped local governments

  • Finance Minister Liu Kun confirms during the National People's Congress the level of total outstanding government debt for 2018 was US$5 trillion
  • Local governments are still seeking ‘illegal’ funding as tax revenues fall due to the slowdown in the economy
Topic |   China economy

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By the end of February, local governments had issued 307.8 billion yuan (US$46 billion) of special-purpose bonds, the majority of which will be used for high-profile infrastructure projects. Photo: Xinhua
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It was the second time for Li to set an economic growth range in the last six years since he took office, with the last time China set a ranged target in 1995 when Li Peng was in office and China was just a small dot on the world economic map. Photo: Bloomberg

China’s GDP target range gives government leeway for economic growth ahead of 2019 uncertainties

  • Premier Li Keqiang tells National People’s Congress on Tuesday that China will aim to achieve an economic growth this year that falls in a range of 6.0 to 6.5 per cent
  • Beijing’s policy efforts geared towards stabilising growth, not stimulus, showing China’s acceptance of a modest slowdown in 2019
Topic |   Two Sessions 2019 (Lianghui)

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It was the second time for Li to set an economic growth range in the last six years since he took office, with the last time China set a ranged target in 1995 when Li Peng was in office and China was just a small dot on the world economic map. Photo: Bloomberg
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