China unveils sweeping local govt debt swap to lift ailing economy
Beijing (AFP) Nov 8, 2024
China on Friday unveiled some of its most ambitious plans in years to lift local government debt, following a meeting of lawmakers eyeing the possibility of intensified trade tensions with US president-elect Donald Trump. Local governments in China face a ballooning debt burden of $5.6 trillion, according to Beijing, raising worries about wider economic stability. The International Mone
China on Friday unveiled some of its most ambitious plans in years to lift local government debt, following a meeting of lawmakers eyeing the possibility of intensified trade tensions with US president-elect Donald Trump. Local governments in China face a ballooning debt burden of $5.6 trillion, according to Beijing, raising worries about wider economic stability. The International Mone