China announces $1.4 trillion over five years to tackle local governments’ hidden debt
- China will allow local governments to allocate 10 trillion yuan to address hidden debts following a parliament meeting.
- As of 2023, China’s hidden debt stands at 14.3 trillion yuan and aims to decrease it to 2.3 trillion yuan by 2028.
- A plan to raise local government debt quotas by 6 trillion yuan aims to reduce systemic financial risks and save 600 billion yuan in interest over five years.
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Total News Sources0
Leaning Left6Leaning Right5Center14Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 24%
C 56%
R 20%
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