Local governments sold 4.36 trillion yuan (US$630 billion) of bonds last year, up about 6 per cent from 4.12 trillion yuan from 2018, according to the Ministry of Finance released on Wednesday. Photo: Xinhua

China’s most indebted provinces face further woes in 2020 as pressure to help slowing economy grows

  • Qinghai, Guizhou and Hainan top the list of China’s most indebted provinces, in terms of debt-to-gross domestic product ratio, with debts of 1.3 trillion yuan in 2018
  • As of the end of 2019, local governments in China had debts totaling 21.31 trillion yuan (US$3 trillion)
Topic |   China economy

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Local governments sold 4.36 trillion yuan (US$630 billion) of bonds last year, up about 6 per cent from 4.12 trillion yuan from 2018, according to the Ministry of Finance released on Wednesday. Photo: Xinhua
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