CX Daily: As China’s Hidden Local Debts Shrink, a New Challenge Emerges
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In Depth: As China’s Hidden Local Debts Shrink, a New Challenge Emerges
As mid-2026 approaches, the clock is ticking on one of the most ambitious and high-stakes financial cleanups in China’s recent history.
In late 2024, Beijing rolled out a sweeping 12 trillion yuan ($1.7 trillion) package of policies to resolve a significant portion of the country’s officially recognized hidden local government debt, amassed during decades of credit-fueled infrastructure-building.
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