Caixin OnlineOpinionEditorial Diagnoses and Cures for Local Government Debt
07.07.2011 17:57

Diagnoses and Cures for Local Government Debt

Trillions of yuan owed by local governments point to potential trouble ahead but opportunities for fiscal budget reform
A Century Weekly editorial

A clearer view of local government debt came into focus June 27 when the National Audit Office published its first survey of fiscal borrowing programs common across the mainland. That same week, Caixin reported that Yunnan's provincial government was struggling to pay back loans tied to a highway project, and sparking fears of a domino effect of defaults.

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