Caixin
Oct 31, 2013 06:01 PM

Strained Finances, Strained Relationships

A

An audit of local government is nearing an end. Despite repeated pledges from the central government that local governments debts are within a controllable level, one cannot help but worry about the results of the audit.

Three years have passed since the central government started to contain the expansion of local borrowing. Some local government financing platforms were banned from taking out bank loans, and local governments find it increasingly difficult to raise funds. This situation can only deteriorate.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code