Baby steps on local government finances
Subscribe to keep reading.
Sign up to stay briefed on what the Chinese government is doing, thinking, and saying.
Already a subscriber? Log in.
Local government debt is still in focus.
First, local government “bond swap” issuance is way down this year (link below). These bonds were meant to be a transparent replacement for previous debt. But provinces only have until the middle of 2018 to complete the process.
Meanwhile new funding cha...