Beijing has been tightening curbs on debt in recent months to defuse risks to the world's second-largest economy and its financial stability, while also trying to stimulate growth that has long relied on infrastructure investments by local governments.
China has instructed heavily indebted local governments to delay or halt some state-funded infrastructure projects, three people with knowledge of the situation said, as Beijing struggles to contain debt risks even as it tries to stimulate the economy. Increasing its efforts to manage US$13 trillion in mun
China has instructed heavily indebted
local governments to delay or halt some state-funded
infrastructure projects, three people with knowledge of the
situation said, as Beijing struggles to contain. -January 19, 2024 at 04:36 am EST
- MarketScreener
China ordered local governments in 12 regions to halt major infrastructure projects, a blow to its efforts to grow the economy. The decision hints at the scope of China’s concern over local government debt.
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