Date
16 July 2018

China seeks clearer view of local debt, WSJ says

The central government is expected to release the results in the next few weeks of an ambitious effort to calculate how much the country’s local governments have borrowed from banks and investors in the past few years, the Wall Street Journal reported Sunday. Government officials, analysts and economists have offered numbers that range from 15 trillion yuan (US$2.46 trillion) to 30 trillion yuan, or nearly 30 percent to 60 percent of gross domestic product, the report said. The size of the debt and the uncertainty about its size underscores how little control the central government has over borrowing by cities and towns, it said.

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