Cover Story: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb

Local governments’ invisible debt could be as high as almost $10 trillion, double Japan’s GDP, posing a risk of destabilizing the banking and financial sector…

As China’s economic growth gets back on track after three years of pandemic, efforts to tackle the mountain of so-called “hidden debt” accumulated by local governments have re-emerged as a priority on the agendas of top policymakers………

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