Breaking out to Find New Solutions – China’s Local Government Debts under the New Budget Law

The rapidly swelling local government debt in China over the past few years are seen by many as a trigger to a credit bubble, or even a full-blown financial crisis. Budget reform, the first critical reform among over 330 reform proposals of the Xi administration, has kicked off, laying the foundation for a more balanced and transparent government budget and financing structure. Yifan Hu outlines the areas needed for both short and long term structural changes.



Yifan Hu Chief Economist, Research of Haitong International via CHINA US Focus http://ift.tt/1c7iHfG