A $ 12 Trillion Problem
China's "basket of measures" to address the risks posed by local government debt is anticipated to encompass a range of strategies, including special bond issuance, debt swaps, loan extensions, and a measure that Beijing has been reluctant to embrace: tapping into the central budget.
Related reading
China's Slowdown Worst Than In 2020
Last month, China's economy fell deeper into a Covid-19-induced slump, raising concerns about China's ability to cushion the hit using fiscal and monetary policy instruments.
The Land Of No Data
For years, researchers, economists, and investors relied on a broad array of Chinese economic data to gauge the health of the world’s second-largest economy.
China's Struggles
China's economy is grappling with a severe downturn, marked by a real estate crisis that has made consumers cautious and businesses hesitant.
China's Shadow Debt
Economists estimate this off-the-books debt at $7 trillion to $11 trillion, about twice the size of China's central government debt.