Editorial: Local Debt Discipline Cannot Be Relaxed

The long-standing issue of local debt, which has not been far from the public’s mind, has recently caused a great uproar. Recently, an official think tank in Southwest China’s Guizhou province issued a statement after researching the local debt situation in many cities and counties in the province, stating that the province was “constrained by limited financial resources, and the progress of debt reduction is extremely difficult. Relying solely on its own capabilities is no longer effective.”