Risks in Financing Platforms Pose a Challenge, CBRC Says

(Beijing) – Local government financing platforms have "prominent potential risks" that pose grave challenges to controlling debt, the China Banking Regulatory Commission (CBRC) said in a recent meeting.

The debts they have taken on are a heavy burden on public finance, the banking regulator said. The CBRC's calculations show that the amount of outstanding platform debts has reached almost 9.5 trillion yuan this year, not including those borrowed through trust products.