China’s local governments are reporting worsening financial conditions. Their debt ratios have been increasing yearly, posing greater challenges in effectively managing financial risks. China experts say that with 31 provincial-level governments across the country entering an irreversible and deep financial deterioration and the central government standing firm against bailouts, debt defaults are inevitable. China’s Renmin…
Mass Debt Defaults by China’s Local Governments Are Inevitable: Experts
CCP’s Budget Deficit Reaches Nearly $1 Trillion
November 10, 2022
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The Chinese Communist Party (CCP) regime’s fiscal balance for the first three quarters of 2022 shows that revenue for the country’s general public budget fell by 6.6 percent year-on-year, while revenue for the government funding budget fell 24.8 percent year-on-year, although corresponding expenditure increased significantly. The Chinese Ministry of Finance announced the figures on Oct. 25….
China’s Local Governments Have Financial Difficulties Following ‘Zero-COVID’ Policy
Chinese authorities admitted on Sept. 19 that outbreaks of new COVID-19 cases occurred in “multiple cities at the same time.” Although the Chinese Center for Disease Control and Prevention (China CDC) still claims that “Dynamic Zero-COVID” strategy suits the situation in China, analysts believe that this policy will make the already difficult local finances even more…
Chinese Regime’s Local Debts Reach Record High, Equivalent to 52 percent of GDP
The Chinese communist regime’s Ministry of Finance released the local governments’ bonds and debt balances for this year on its website on Nov. 23. As of the end of October, the local government debts balance was $4.64 trillion. Mainland Chinese media Securities Times and Tencent Finance jointly released the “China Cities Debt Ratio Ranking,” showing…
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