China announces $1.4 trillion over five years to tackle local governments’ hidden debt
- China will allocate $1.4 trillion over five years to tackle local governments’ hidden debt, according to the Minister of Finance Lan Fo'an.
- Nomura estimates China has between 50 trillion yuan and 60 trillion yuan in hidden debt, which amounts to $7 trillion to $8.4 trillion.
- Local Chinese government debt grew to 22% of GDP by the end of 2019, exceeding the revenue growth needed to service it.
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Total News Sources0
Leaning Left4Leaning Right1Center7Last UpdatedBias Distribution58% Center
Bias Distribution
- 58% of the sources are Center
59% Center
L 33%
C 59%
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