China looks to be defusing government’s ‘hidden debt’ bomb ...Qatar

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China could be making inroads in a long-standing battle to deal with local governments’ so-called “hidden-debt” as the economy’s rebound gives officials room to focus on tackling financial risks. An analysis of local governments’ finances shows a difference of 668bn yuan ($103bn) between the amount of refinancing bonds sold in the first half of the year to roll over maturing debt and the amount of bonds repaid. That implies cities and provinces may have used some of the proceeds to repay off-balance sheet debt, according to Robin Xing, chief China economist at Morgan Stanley in Hong Kong. It “should make a positive contribution to the economy,” he said, helping to increase the transparency

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Last updated : 18 August 2021 clock 09:30 PM

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China looks to be defusing government’s ‘hidden debt’ bomb ...Qatar

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