China to Curtail Local Government Debt

Shuanglin Lin

East Asian Policy (EAP), 2016, vol. 08, issue 04, 69-81

Abstract: In 2014, China’s total government debt was an estimated 60% of gross domestic product (GDP), close to the upper limit set by the European Union. The Xi administration has set budget deficit at 3% of GDP for 2016 and announced that government budget revenue will grow only 3.2% in 2016! It has also recently abolished local government financing vehicles, legalised local government bond issuing in 2014 and started "the debt swap" reform.

Date: 2016
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DOI: 10.1142/S1793930516000416

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