Baotou, Inner Mongolia, where the local government had an invisible debt of US$830 million. Photo: Simon Song

Chinese local governments’ US$2.4 billion of concealed debt is uncovered by audit office 

Hidden debts were racked up by borrowing through financing vehicles and deals forbidden by the finance ministry, report says 

Topic |   China economy

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Baotou, Inner Mongolia, where the local government had an invisible debt of US$830 million. Photo: Simon Song
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Sidney Leng

Sidney Leng

Sidney Leng joined the Post in 2015 after spending a year and a half working for US media, including National Public Radio and Foreign Policy Magazine. He has been covering China's macroeconomic policies and financial regulations since 2016.