Asia Sentinel

Asia Sentinel

Share this post

Asia Sentinel
Asia Sentinel
China Bails Out Local Governments
Copy link
Facebook
Email
Notes
More

China Bails Out Local Governments

Our Correspondent
Mar 07, 2013
∙ Paid

Share this post

Asia Sentinel
Asia Sentinel
China Bails Out Local Governments
Copy link
Facebook
Email
Notes
More
Share

China's State Council has acted to bail out to local governments which have racked up at least 10.7 trillion yuan (US$1.69 trillion) in debt steered through covert "financing vehicles" to finance a wave of development spending on empty housing complexes and over-developed infrastructure.

In the 2013 budget, the State Council granted 350 billion yuan in l…

Keep reading with a 7-day free trial

Subscribe to Asia Sentinel to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Asia Sentinel
Publisher Privacy
Substack
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share

Copy link
Facebook
Email
Notes
More