Reported 14 days ago
China has introduced a significant debt package worth 10 trillion yuan ($1.4 trillion) to support local governments amid financial strains and declining economic growth. While this plan allows for increased borrowing through special bonds and aims to manage hidden debt, it does not include direct economic stimulus measures. Additionally, local governments are facing pressure to manage high debt levels while ensuring funds are available for repayments, with estimates suggesting hidden debt could be significantly reduced by 2028. Future fiscal measures are expected, particularly with meetings scheduled to discuss growth strategies.
Source: YAHOO