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China's local governments finding it difficult to service debt as fiscal p
Updated : 2 years, 11 months ago IST
According to S&P Global Ratings analysts, local government direct debt exceeded 120 per cent of revenue in 2022.
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China halts two high-speed rail projects citing growing local govt debt
Updated : 5 years ago IST
Beijing [China], May 19 (ANI): Due to growing local government debt, China has ordered a halt to work on two high-speed rail projects with a total investment of 130 billion yuan (USD 20 billion) in Shandong and Shaanxi provinces.
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