Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Already a subscriber?
Hong Kong | Officials from some of Chinas most indebted provinces and cities have met leading state bankers in Beijing in recent days as they step up efforts to renegotiate debt payments on billions of dollars in liabilities that threaten to constrain growth in the worlds second-biggest economy.
Chinas local governments accumulated enormous liabilities over a decade-long, debt-fuelled building spree. While the infrastructure drive helped fuel growth, many local governments are now grappling with billions of dollars of off-balance sheet debt, st…
Read the full article at: https://www.afr.com/world/asia/china-s-indebted-provinces-meet-state-bankers-to-discuss-debt-relief-20240310-p5fb93