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
Topic |   China economy

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