Despite growing economic pressure, debt control remains a priority for the Chinese government in 2023. Photo: Xinhua
Explainer |
China debt: is the bubble about to burst, and what is driving the crisis among local governments?
- The outlook for Chinese local government debt in 2023 is gloomy, triggering concerns over rising default risks
- Beijing has stepped up supervision of off-balance-sheet borrowing and is promoting fiscal and loan restructuring
Despite growing economic pressure, debt control remains a priority for the Chinese government in 2023. Photo: Xinhua
