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China debt

China debt
The latest news and features on China's debt, both local and national.
Women walk past by a display showing the Shanghai stock market index outside a brokerage in Beijing. China’s latest financial asset reshuffle has sparked market expectations of more government moves to stabilise the stock market. Photo: AP
Banking & finance

Beijing steps up financial ‘master plan’ with major asset reshuffle

China is moving to create a group of world-class investment banks through a round of industry consolidation, analysts say.

China economy

Opinion | China’s local government financing vehicles are a ticking debt bomb

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China economy

China urges prudence over plenty in rural projects as local debt clouds linger

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China's economic recovery

China’s local governments urged to rethink approach to infrastructure investment

To avoid the pitfalls of overambitious spending, heavily indebted authorities must ‘know where to hit the brakes’, think tank says.

The Hele high-speed-railway station in Hainan province opened in October, 14 years after construction was completed. Photo: Weibo
China economy

Opinion | 3 challenges for China’s economic growth in 2025

The economy may be turning a corner but the property-sector crisis, local government debt and Trump’s return cloud the outlook.

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China economy

Editorial | Politburo prepared to do all that it takes in the name of growth

Beijing leaders make it clear that ‘more active’ policies are on the way through the use of fiscal and monetary measures.

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China economy

Editorial | China fires first shot to shore up economy against any surprises

The 6 trillion yuan debt-swap plan announced by the National People’s Congress Standing Committee is a timely, measured and targeted approach.

China’s Minister of Finance Lan Foan pledged more fiscal stimulus measures were on the way, including a “more supportive fiscal policy” for next year. Photo: Weibo
China’s economic stimulus

China unveils debt-relief plan, keeps further stimulus salvo in reserve arsenal

Week-long NPC Standing Committee meeting ends with mostly forward-looking plans to right China’s economic ship.

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China economy

Macroscope | The most important part of China’s fiscal stimulus? Expectation management

As Beijing prioritises stability and development over reflation, investors must reconcile themselves to the realities of Chinese policymaking.

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China’s economic stimulus

In stimulus signal, China’s top legislature mulls debt swap plan on first day

China’s top legislative body is reviewing local debt swaps on the first day of its session, suggesting more fiscal stimulus could arrive.

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China’s top legislative body is meeting in a closely watched session likely to address several pressing economic issues. Photo: AFP
China’s economic stimulus

‘Avoiding a crisis’: economic stability top of agenda as Chinese lawmakers meet

Focus of meeting expected to be on risk prevention and economic stabilisation rather than directly boosting demand.

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The Great Hall of the People in Beijing. Photo: Simon Song
China’s economic stimulus

Chinese businesses pin payment hopes on special government bonds

Government adviser describes local governments’ arrears in accounts payable to enterprises as ‘shocking’.

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China’s economic stimulus

China could tap 12 trillion yuan in new debt for stimulus in 2025: economist

To ensure stimulus measures are long-lasting and effective, a Chinese economist said, speed and scale must be prioritised.

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China economy

As local debt burdens linger, Chinese county thrust back into spotlight

A big-spending county in one of China’s poorest provinces has become a topic of discussion again as local debts still encumber economy.

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A massive wooden structure in a county of China’s Guizhou province has become a symbol of reckless spending and unsustainable debt. Photo: Xinhua
China’s economic stimulus

Explainer | China’s economic stimulus efforts gather pace in busy week

President, premier and central bank chief among those dispensing clues to the next developments in China’s economic stimulus.

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People walk past the People’s Bank of China headquarters in Beijing on Saturday. Photo: AFP
China's economic recovery

China’s space for fiscal stimulus could be limited amid debt woes: analysts

For maximum effect, observers say, a fiscal expansion to boost China’s economy will need to come soon if it is to come at all.

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China's economic recovery

China names, shames 8 authorities after warning regions to curb hidden debt

Notices from top legislature and finance ministry come with debt management under the microscope amid scramble to achieve economic growth targets for 2024.

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China's economic recovery

China’s debtors get ray of hope as Shenzhen shares bankruptcy data

Shenzhen has released more data on its personal bankruptcy cases, part of a pilot programme adopted to aid China’s individual debtors.

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Shenzhen, the only city in mainland China with a procedure for personal bankruptcy, has shared the details of some cases after several years of teh pilot programme. Photo: AFP
China economy

Are China’s local governments using unsustainable tactics to pay off debt?

From ‘smashing pots’ to special bonds, regional officials are running out of ways to squeeze businesses for more money, experts say.

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China economy

Opinion | To restore consumer confidence, China must save the property sector

Instead of squandering billions buying unsold properties, Beijing should learn from the US response to the global financial crisis.

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China economy

Opinion | China’s third plenum shows its reform era has entered a new phase

As China strives to build a “high-level socialist market economy”, expect the central government to build on the reforms of past decades.

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People riding bicycles and electric scooters wait at a traffic light in Beijing, on July 18 as the Communist Party of China’s third plenum draws to a close. Photo: EPA-EFE
Bangladesh

Editorial | The current tensions in Bangladesh are not in anyone’s interest

Priority must be to restore order, protect investors from Hong Kong, mainland China, elsewhere. Bangladesh must not squander economic gains.

A vandalized image of Prime Minister Sheikh Hasina in the aftermath of her resignation, in Dhaka, Bangladesh. The army has taken control of the government pending an election. Photo: EPA-EFE
China economy

Opinion | The era of the entrepreneurial Chinese local government is over

Local governments, so crucial to China’s economic take-off, have arguably become the biggest drag on the economy and must now be reined in.

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China economy

Bond aid? China’s treasury should issue securities to ease local debt: academic

With China’s local governments under the yoke of heavy debt, calls are growing louder for the central government to lighten the load with treasury bonds – and eventually, reform of public finances.

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Banking & finance

Meet China’s next debt collectors – educated, tech-savvy and following new rules

Banks and financial service companies in China are recruiting more educated and tech-literate personnel for their debt collections, a reflection of new rules that have professionalised the industry.

China’s banks are seeking more educated, experienced and tech-aware staff members for their debt collection teams. Photo: Reuters
China property

US Congress hearing prompts questions over spillover of China’s property slump

After a hearing in the US Congress, concerns over the downstream effects of China’s property market slump have grown – but analysts say such a spillover is improbable with the scale of government intervention.

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China’s ongoing crisis in the property market has stoked fears of an overseas spillover, an outcome most analysts say is unlikely. Photo: Getty Images
Diplomacy

My Take | US, heal thy fiscal health first for the sake of the global economy

American lawmakers cannot or will not deal with their nation’s own multitrillion-dollar debt problem, so they complain about China’s.

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US-China relations

US House raises alarm over China’s multi-trillion-dollar ‘time bomb’

Ratings agencies S&P Global and Moody’s accused of failing to reflect risk posed by mainland’s local government financing vehicles.

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