Some 700,000 local government financing vehicles are used by provincial and lower level governments to evade restrictions on borrowing. Photo: AFP
China upgrading local government financial monitoring system to rein in ‘hidden debt’
- China is strengthening a national monitoring system that keeps tabs on some 700,000 local government financing vehicles
- Beijing has launched a number of programmes to rein in excess local debt and risky bank lending in recent years
Topic |
China economy
Some 700,000 local government financing vehicles are used by provincial and lower level governments to evade restrictions on borrowing. Photo: AFP
Chinese President Xi Jinping has called for more research and investment into blockchain technology. Shutterstock
Chinese President Xi Jinping calls for more research, investment into blockchain technology
- ‘Greater effort should be made to strengthen basic research and boost innovation capacity,’ leader tells Communist Party’s elite
- Technology can be used to ‘empower industries, increase efficiency and lower costs’, industry expert says
Topic |
Blockchain
Chinese President Xi Jinping has called for more research and investment into blockchain technology. Shutterstock