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China Takes Measures to Address Debt Risks and Economic Challenges

China Implements Measures to Address Deb...

Bank of China's Bond Sales for Capital R...

Beijing repays bonds early for interest ...

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Economy

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9

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Jul 13, 2023

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Nov 14, 2023

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China orders local governments to cut exposure to public-private projects as debt risks rise. The government plans to accelerate the issuance of government bonds to address the economy's challenges. Finance minister emphasizes the need for a new playbook that relies on debt and state spending.

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Reuters - 14 Nov 2023 - 09:06

Exclusive: China orders local governments to cut exposure to public-private projects as debt risks rise

BEIJING, Nov 14 (Reuters) - China has ordered its local governments to halt public-private partnership projects identified as "problematic" and replaced a 10% budget spending allowance for these ventu...

Reuters - 05 Nov 2023 - 09:37

China to accelerate issuance of government bonds, finance minister says

BEIJING, China, Nov 5 (Reuters) - China will accelerate the issuance and use of government bonds, state-run news agency Xinhua reported on Sunday citing an interview with new finance minister Lan Foan...

Investing.com - 05 Nov 2023 - 09:37

China to accelerate issuance of government bonds, finance minister says

BEIJING, China (Reuters) - China will accelerate the issuance and use of government bonds, state-run news agency Xinhua reported on Sunday citing an interview with new finance minister Lan Foan. The ...

Asia Times - 03 Nov 2023 - 05:04

China's economic miracle turns to fiscal crisis

China’s economic growth “miracle” has begun to be overshadowed by an evolving fiscal challenge. The depletion of local governments’ credit capacity has not only crowded out the rising demand for socia...

Bloomberg - 02 Nov 2023 - 01:30

China’s LGFVs Plan Early Debt Payment as Beijing Offers More Aid

Listen 2:50 China’s local government financing vehicles are increasingly offering to redeem their bonds before maturity, tapping Beijing’s support to lower financing costs while seeking to sustain i...

Asia Times - 01 Nov 2023 - 10:51

PBOC in a liquidity dilemma of crucial proportions

Any staffers at People’s Bank of China headquarters planning a vacation in the last two months of 2023 are almost surely hitting the “cancellation” button.No major monetary authority is likely to be b...

Bloomberg - 31 Oct 2023 - 22:00

China’s $7.8 Trillion Municipal Debt Crisis Began in 1994

A 29-year-old formula allowed Beijing to tax more than it spends, forcing regional governments to turn to shadow banks. Only a powerful politician like Xi can overhaul that arrangement. Listen 4:36 ...

Bloomberg - 31 Oct 2023 - 12:27

China Vows System to Resolve Local Government Debt Risks

Listen 1:45 China said it will set up a system to resolve debt risks of its local governments, as state leaders and top bankers wrapped up a two-day, closed-door meeting to set the priorities for th...

Reuters - 25 Oct 2023 - 11:01

Exclusive: China's cabinet curbs debt growth in 12 "high risk" regions - sources

BEIJING, Oct 25 (Reuters) - China's cabinet has restricted the ability of local governments in 12 heavily indebted regions to take on new debt and placed limits on what new state-funded projects they ...

marketscreener - 25 Oct 2023 - 10:33

China's cabinet curbs debt growth in 12 "high risk" regions - sources - Today

BEIJING, Oct 25 (Reuters) - China's cabinet has restricted the ability of local governments in 12 heavily indebted regions to take on new debt and placed limits on what new state-funded projects they ...

CNA - 24 Oct 2023 - 20:51

China to issue US$137 billion sovereign debt to support economy

This audio is generated by an AI tool. BEIJING: China's top parliament body has approved a 1 trillion yuan (US$137 billion) sovereign bond issue and passed a bill to allow local governments to frontl...

nikkei - 24 Oct 2023 - 12:10

China names Lan Foan as new finance minister amid stimulus push

BEIJING (Reuters) -- China has appointed Lan Foan, a technocrat with little central government experience, as the new finance minister, state media said on Tuesday, as the government ramps up fiscal s...

Bloomberg - 24 Oct 2023 - 00:00

China's Mystery Municipal Debt Issuers Could Be a Problem

The true size of local government borrowings is unknown. Yet thanks to Beijing’s latest debt swap program, investors can’t get enough of it. Listen 4:23 Forget real estate developers. The gray rhin...

WSJ - 19 Oct 2023 - 05:00

Don’t Rule Out a Financial Crisis in China

Extensive fiscal and financial imbalances have taken China, its leadership and the world into uncharted territory The world’s second largest economy has a deflating property bubble, local governments ...

Bloomberg - 18 Oct 2023 - 05:43

China Tells Banks to Extend Local Government Loans to Ease Credit Crunch

China’s financial regulators told its policy banks and biggest lenders to issue new loans to cover offshore debt issued by local governments maturing this year and in 2024, ramping up efforts to ease ...

Reuters - 17 Oct 2023 - 10:55

Exclusive: China tells banks to roll over local government debts - sources

BEIJING, Oct 17 (Reuters) - China has told state-owned banks to roll over existing local government debt with longer-term loans at lower interest rates, two sources with knowledge of the matter said, ...

Bloomberg - 11 Oct 2023 - 08:57

China Budget Revision Would Mark ‘Sea Change’ in Fiscal Strategy

A rare mid-year revision to China’s budget to juice the recovery with more stimulus would signal that top leaders are moving away from a growth model that is piling ever more debt on local governments...

Bloomberg - 20 Sep 2023 - 01:00

China LGFVs in Yuan Bond Sales Boom as Policy Tries to Lower Risks

Listen 3:45 China’s local government financing vehicles are staging a comeback in credit markets, with a surge in yuan bond sales as Beijing intensifies efforts to defuse risks from the debt-laden g...

ZeroHedge - 11 Aug 2023 - 11:46

China To Bail Out 1 Trillion Yuan In "Hidden" LGFV Debt By Shifting It To Provinces

It was just on Monday when we reported that China was facing a new debt crisis as a record number of local government financing vehicles (or LGFVs also considered the currently most aggressive form of...

Reuters - 13 Jul 2023 - 08:20

Exclusive: China's Qingdao sets up firm to bail out its local government financing arms

July 13 (Reuters) - Qingdao city in China's debt-laden Shandong province has set up a company to bail out its cash-strapped local government financing vehicles (LGFVs), sources said, as regional gover...

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