How China plans to tackle 6t yuan hidden debt crisis with bold swap plan in economic shakeup

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SHANGHAI, Nov 11 — China has unveiled an ambitious plan to relieve public debt, aiming to turn local governments away fr...

But local governments today are running out of infrastructure needs to meet, which means that newer projects, like extra bridges and conference centres, tend to make less money back as there is little demand for them.

According to the Chinese financial publication Caixin, local governments in the Guangxi, Shaanxi and Sichuan regions saw a significant increase in fines collected in the first half of 2022.

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Category: EconomyBusiness

Markets: MalaysiaChina

Topics: Hidden debts China economy China economy policy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-11 @ 07:00:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: malaymail.com

Language: English

Article Length: 589 words

Reading Time: 4 minutes read

Sentences: 29 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Malay Mail

News ID: 23583159

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