Baoshang Bank was taken over by the authorities in May. Photo: Reuters
Baoshang Bank was taken over by the authorities in May. Photo: Reuters

All but one of China’s provincial level governments ran deficit at start of 2019, raising further funding fears

  • Shanghai was the only authority that ran a surplus financial position in the first six months of the year
  • News follows takeover of Baoshang Bank and bailout of Bank of Jinzhou, leaving local governments and financial institutions in need of capital or even help from Beijing

Baoshang Bank was taken over by the authorities in May. Photo: Reuters
Baoshang Bank was taken over by the authorities in May. Photo: Reuters
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