The quota for local government special purpose bonds, the proceeds of which must be used to fund infrastructure projects, has reached 2.15 trillion yuan (US$312 billion) so far in 2019. Photo: Xinhua
The quota for local government special purpose bonds, the proceeds of which must be used to fund infrastructure projects, has reached 2.15 trillion yuan (US$312 billion) so far in 2019. Photo: Xinhua

China’s total debt rises to over 300 per cent of GDP as Beijing loosens borrowing curbs to boost growth

  • The figure has risen to over US$40 trillion, some 15 per cent of overall global debt, according to data released by the Institute of International Finance
  • China has eased its deleveraging campaign in a bid to aid the slowing economy amid the trade war with the United States

The quota for local government special purpose bonds, the proceeds of which must be used to fund infrastructure projects, has reached 2.15 trillion yuan (US$312 billion) so far in 2019. Photo: Xinhua
The quota for local government special purpose bonds, the proceeds of which must be used to fund infrastructure projects, has reached 2.15 trillion yuan (US$312 billion) so far in 2019. Photo: Xinhua
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