Guangzhou Nears Debt Red Line, Its Figures Show
(Beijing) – One of the most affluent cities in the country has published figures that indicate it is on the verge of falling short of meeting scheduled debt repayment.
This comes amid mounting concern that local governments may have trouble paying off the debts they racked up in recent years amid spending intended to stimulate the economy.
Guangzhou, the capital of Guangdong Province with a GDP that ranked third last year among all Chinese cities, said on July 30 that it needs to pay loans worth almost 26.1 billion yuan this year. That is 19.37 percent of the city government's projected income for this year. The internationally accepted red line for this ratio is 20 percent.
- Hospitals No Longer Take Organs from Executed Prisoners, Official Says
- Underground Disturbance
- Home Burial
- Closer Look: So Apple and Alipay Are Getting Married? Not So Fast
- Job Websites Adapt to Changing Industry by Targeting Individuals, Special Groups
- Graphic: Rising Tide of Investment
- Closer Look: CSRC Should Review Its Approvals-Based IPO System
- China's Growing Private Sector
- Advisory Body Votes to Raise Subway, Bus Fares in Capital
- Earning Trust of the People Requires Rule of Law
- Sign up to receive our free daily newsletter
- Rise and Fall of a Coal Boomtown in Shanxi Province
- China Nears Deal with Mexico to Export Bullet Trains for First Time
- Researchers Cast Doubt on State Council Goals to Cut Air Pollution
- Which Way for Smartphone Swipe and Pay?
- Chinese Comfort Women: Testimonies from Imperial Japan's Sex Slaves
- Graphics: The Fourth Plenum
- What is Authoritarianism?
- Zuckerberg Impresses Tsinghua Students with His Chinese, Even Talks Tech
- Alibaba Shopping Site Red-Faced after Number of Phone Orders Faked
- For China's Property Market, All Is Not Lost