Focus
Local Government Debt
CCP’s Economic Work Meeting: No Concrete Plan for China’s Recovery
Due to ongoing real estate and local government debt issues, Moody’s has lowered China’s sovereign debt rating.
Chinese Regime to Audit Local Government Debt
China’s Audit Commission announced on July 28 the formation of a new administration to audit all local government debt, expected to begin work in early August.
China’s High Corporate Debt Signals Imminent Crisis
The debt owed by China’s corporations, in bonds and short-term loans, exceeds the GDP by over 50 percent, and is a credit bomb waiting to explode, experts say.
