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

Amanda Lee in Beijing

Published: 8:10am, 31 Oct, 2019

Updated: 1:02pm, 31 Oct, 2019

Some 700,000 local government financing vehicles are used by provincial and lower level governments to evade restrictions on borrowing. Photo: AFP

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Amanda Lee

Beijing-based correspondent Amanda Lee covers markets and the economy for the Post, with an interest in China's economic and social landscape. A graduate of the London School of Economics, she joined the Post in 2017 and has previously worked for Thomson Reuters and Forbes.