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China debt

China’s Minister of Finance Lan Foan pledged more fiscal stimulus measures were on the way, including a “more supportive fiscal policy” for next year. Photo: Weibo

Editorial | China fires first shot to shore up economy against any surprises

The 6 trillion yuan debt-swap plan announced by the National People’s Congress Standing Committee is a timely, measured and targeted approach.

China unveils debt-relief plan, keeps further stimulus salvo in reserve arsenal

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Macroscope | The most important part of China’s fiscal stimulus? Expectation management

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In stimulus signal, China’s top legislature mulls debt swap plan on first day

China’s top legislative body is reviewing local debt swaps on the first day of its session, suggesting more fiscal stimulus could arrive.

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China’s top legislative body is meeting in a closely watched session likely to address several pressing economic issues. Photo: AFP

‘Avoiding a crisis’: economic stability top of agenda as Chinese lawmakers meet

Focus of meeting expected to be on risk prevention and economic stabilisation rather than directly boosting demand.

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Chinese businesses pin payment hopes on special government bonds

Government adviser describes local governments’ arrears in accounts payable to enterprises as ‘shocking’.

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China could tap 12 trillion yuan in new debt for stimulus in 2025: economist

To ensure stimulus measures are long-lasting and effective, a Chinese economist said, speed and scale must be prioritised.

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China can engage in more government spending to stimulate the economy, a prominent analyst has said, on projects like urban infrastructure. Photo: Xinhua

As local debt burdens linger, Chinese county thrust back into spotlight

A big-spending county in one of China’s poorest provinces has become a topic of discussion again as local debts still encumber economy.

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Explainer | China’s economic stimulus efforts gather pace in busy week

President, premier and central bank chief among those dispensing clues to the next developments in China’s economic stimulus.

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China’s space for fiscal stimulus could be limited amid debt woes: analysts

For maximum effect, observers say, a fiscal expansion to boost China’s economy will need to come soon if it is to come at all.

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A fiscal expansion to boost China’s economy is viewed by many analysts as necessary, but room to execute such a change is limited. Photo: Bloomberg

China names, shames 8 authorities after warning regions to curb hidden debt

Notices from top legislature and finance ministry come with debt management under the microscope amid scramble to achieve economic growth targets for 2024.

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A construction crew works on an expressway in China’s Yunnan province, which has launched a 100-day campaign to boost economic growth. Photo: Xinhua

China’s debtors get ray of hope as Shenzhen shares bankruptcy data

Shenzhen has released more data on its personal bankruptcy cases, part of a pilot programme adopted to aid China’s individual debtors.

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Are China’s local governments using unsustainable tactics to pay off debt?

From ‘smashing pots’ to special bonds, regional officials are running out of ways to squeeze businesses for more money, experts say.

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Opinion | To restore consumer confidence, China must save the property sector

Instead of squandering billions buying unsold properties, Beijing should learn from the US response to the global financial crisis.

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Illustration: Craig Stephens

Opinion | China’s third plenum shows its reform era has entered a new phase

As China strives to build a “high-level socialist market economy”, expect the central government to build on the reforms of past decades.

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People riding bicycles and electric scooters wait at a traffic light in Beijing, on July 18 as the Communist Party of China’s third plenum draws to a close. Photo: EPA-EFE

Editorial | The current tensions in Bangladesh are not in anyone’s interest

Priority must be to restore order, protect investors from Hong Kong, mainland China, elsewhere. Bangladesh must not squander economic gains.

Opinion | The era of the entrepreneurial Chinese local government is over

Local governments, so crucial to China’s economic take-off, have arguably become the biggest drag on the economy and must now be reined in.

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Bond aid? China’s treasury should issue securities to ease local debt: academic

With China’s local governments under the yoke of heavy debt, calls are growing louder for the central government to lighten the load with treasury bonds – and eventually, reform of public finances.

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Local government debt burdens are becoming a more pointed problem in China as sources of state revenue begin to dry up. Photo: Bloomberg

Meet China’s next debt collectors – educated, tech-savvy and following new rules

Banks and financial service companies in China are recruiting more educated and tech-literate personnel for their debt collections, a reflection of new rules that have professionalised the industry.

US Congress hearing prompts questions over spillover of China’s property slump

After a hearing in the US Congress, concerns over the downstream effects of China’s property market slump have grown – but analysts say such a spillover is improbable with the scale of government intervention.

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My Take | US, heal thy fiscal health first for the sake of the global economy

American lawmakers cannot or will not deal with their nation’s own multitrillion-dollar debt problem, so they complain about China’s.

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TV screens show US President Joe Biden and Republican presidential candidate Donald Trump. Photo: Reuters

US House raises alarm over China’s multi-trillion-dollar ‘time bomb’

Ratings agencies S&P Global and Moody’s accused of failing to reflect risk posed by mainland’s local government financing vehicles.

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Katie Porter, a California Democrat, speaks during a US House Oversight committee hearing in Washington on Wednesday. Photo: SCMP

China’s ‘hidden debt’ seen shrinking, but scaling that mountain remains daunting

As Beijing continues to crack down on problematic local-level debt, economist Luo Zhiheng has run the numbers to estimate how much progress has been made.

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Letters | China’s local governments missing out on benefits of green bonds

Readers discuss a little-tapped funding source for China’s indebted local governments, why the waste charging plan failed, and the continuing need for English language training.

No joy for China’s regional airlines as lawsuits add to local debt turbulence

Regional state carrier Joy Air has filed three lawsuits since the start of the year against three local governments in China, with two concerning overdue subsidies.

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Regional state carrier Joy Air has filed three lawsuits since the start of the year against three local governments in China. Photo: Weibo/幸福航空

Chinese localities test debt-for-data swaps as liabilities reach troubling highs

Local governments in China are exploring the use of data as an asset to help reduce their heavy debt burdens, but this has prompted concerns over efficacy and legality.

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China’s local governments are attempting to classify their vast stores of data as assets to help relieve debt burdens. Photo: Shutterstock

Opinion | China is embracing sustainability to cope with economic headwinds

Despite some progress, the Chinese economy still faces problems but these can be overcome with targeted stimulus measures and a focus on sustainable development. By framing China as a threat, the US risks impeding global sustainability efforts.

Fitch cuts outlook for China’s state-owned banks from stable to negative

The move by Fitch Ratings comes a week after it cut its projection for the country’s sovereign credit rating, reflecting pessimism in the world’s second largest economy and concerns over Beijing’s capacity to support its biggest lenders.

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China debt
The latest news and features on China's debt, both local and national.
last updated:
9 September, 2024
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