Caixin

Standard Chartered: Local Gov't Financing Platforms Face Insolvency

By intern reporter Xu Hong

(Beijing) – The majority of local government financing vehicles cannot repay their debt principle and interest, and are putting an enormous strain on local governments, said Stephen Green, head of Standard Chartered Greater China Research Department, in a forum on September 17.

a

Green suggested that up to 80 percent of local government loans won't be able to cover the debt service and are currently supported by local governments partly through land revenues.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.