CX Daily: Clearing Arrears to Businesses Tests Chinese Localities’ Resolve
Listen to the full version
TOP STORIES
Arrears /
In Depth: Clearing Arrears to Businesses Tests Chinese Localities’ Resolve
Beijing is amping up support to assist in clearing local public-sector arrears owed to businesses, but how keen localities will be to take on new interest-bearing debts to settle interest-free ones has become a cause for concern.
Despite recent progress, industry insiders said that some localities may hesitate to take on new bank loans due to cost concerns. Others suggested that rules under the nationwide campaign starting in 2023 that aim to curtail hidden local government debt and the weak financial state of some debtors may limit bank lending.
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新