Ningxiang’s government relies heavily on central government support and debt. Photo: Handout Ningxiang’s government relies heavily on central government support and debt. Photo: Handout
Ningxiang’s government relies heavily on central government support and debt. Photo: Handout
China economy

Debt-ridden Chinese city does U-turn on scrapping loan guarantees

Ningxiang bows to pressure and reverses sudden plan to invalidate promises to pay money owed

Topic |   China economy
Ningxiang’s government relies heavily on central government support and debt. Photo: Handout Ningxiang’s government relies heavily on central government support and debt. Photo: Handout
Ningxiang’s government relies heavily on central government support and debt. Photo: Handout
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