Search For "local government debt"
China sees surge in worker protests over unpaid wages amid deepening local
Updated : 10 months, 1 week ago IST
Workers across China, from the northern province of Hebei to the southern autonomous region of Guangxi, which borders Vietnam, and eastward to the coastal province of Guangdong, are bearing the brunt of cash-strapped local governments seeking survival strategies during the economic downturn.
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China's Communist Party gathers to chart course amid economic troubles
Updated : 1 year, 8 months ago IST
This gathering assumes significant importance as China, the world's second-largest economy, grapples with a myriad of challenges including a property sector crisis, escalating local government debt, and strained consumer demand amid geopolitical tensions with Western nations.
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China halts two high-speed rail projects citing growing local govt debt
Updated : 4 years, 10 months 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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Risks of China's local debt grows as govt scales back COVID-19 stimulus
Updated : 4 years, 10 months ago IST
Beijing [China], May 2 (ANI): As China has started scaling back the COVID-19 stimulus worth trillions of yuan launched last year, local government debt and corporate bond defaults are emerging as the prime financial risks for the communist government.
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China's fiscal situation 'extremely severe', says ex-finance minister Lou
Updated : 5 years ago IST
Beijing [China], March 2 (ANI): China's fiscal situation is "extremely severe with risks and challenges", former finance minister Lou Jiwei has warned, citing fallout from aggressive US stimulus policies, the global economic slowdown during the pandemic, an ageing Chinese population and moun
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