China reduced local government debt risks since 2012, focusing on liquidity pressures and debt restructuring.

China has made notable strides in reducing local government debt risks since 2012, focusing on alleviating liquidity pressures and restructuring debt. The central government has limited hidden debt growth and promoted the use of special bonds. Local governments have employed various strategies, including securing central support and optimizing debt terms. These coordinated efforts have effectively mitigated local debt risks and prevented the unchecked growth of hidden debts.

September 02, 2024
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