Commentary: China’s Local Government Debt Control Plan Could Hinder Growth in 2024

00:00

00:00/00:00

Listen to this article 1x

A construction crew works at the site of the Gongnong Bridge renovation project in December 2022 in Shenyang, Northeast China’s Liaoning province. Photo: VCG

In guidelines issued at the end of 2023, China’s State Council mandated a slowdown or halt of certain government-invested projects starting from 2024 in 12 key provincial-level regions. These regions, identified as high-risk in terms of their debt burdens, are Tianjin municipality, Inner Mongolia, Liaoning, Jilin, Heilongjiang, Guangxi, Chongqing municipality, Guizhou, Yunnan, Gansu, Qinghai and Ningxia.