Wu Xiaoqiu of Renimin University of China at the Boao Forum for Asia. Photo: boaoforum.org

China’s local government debt at ‘boiling point’ as Beijing seeks to boost growth, says renowned academic

  • Regional authorities have issued US$163.8 billion in debt since the start of 2019, four times that of year-earlier period
  • But China will not be centre of next crisis as the financial system is ‘healthy’, says Renmin University vice-president professor Wu Xiaoqiu
Topic |   China economy

TOP PICKS

Wu Xiaoqiu of Renimin University of China at the Boao Forum for Asia. Photo: boaoforum.org
READ FULL ARTICLE
China’s state sector came to the rescue in the 2008 financial crisis to ensure that employment levels were maintained even as global trade was collapsing. Photo: AFP

Can China count on its SOEs to boost ailing employment amid US-China trade war?

  • China’s state-owned enterprises came to the rescue in the 2008 financial crisis to ensure that employment levels were maintained even as global trade was collapsing
  • Salary cuts and lay-offs are on the rise in manufacturing and technology-related industries, but China wants to create 11 million new urban jobs this year
Topic |   China economy

TOP PICKS

China’s state sector came to the rescue in the 2008 financial crisis to ensure that employment levels were maintained even as global trade was collapsing. Photo: AFP
READ FULL ARTICLE