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Markets

China to curb increases in local govt hidden debt

  • As of the end of 2020, China's outstanding local government debt amounted to 25.66 trillion yuan ($3.92 trillion), said Ou.
07 Apr 2021

BEIJING: China will curb increases in local government hidden debt and control the size of new local government bonds for high-risk regions, Assistant Finance Minister Ou Wenhan told a press conference on Wednesday.

As of the end of 2020, China's outstanding local government debt amounted to 25.66 trillion yuan ($3.92 trillion), said Ou.