China’s local governments have been told to refrain from recklessly expanding infrastructure projects. Photo: Xinhua
China’s debt-laden local governments urged not to ‘blindly expand’ post-coronavirus infrastructure projects
- China’s top leadership has issued a warning about the ‘heavy debt burden’ of some local governments, saying greater monitoring is needed
- Total government debt totalled 46.55 trillion yuan (US$7.1 trillion) at the end of 2020, including 25.66 trillion yuan owed by local authorities
China’s local governments have been told to refrain from recklessly expanding infrastructure projects. Photo: Xinhua
