Monitorul de Ştiri | China unveils sweeping local govt debt swap to lift ailing economy

China unveils sweeping local govt debt swap to lift ailing economy

Cătălin Roșioru

BEIJING: China on Friday (Nov 8) unveiled some of its most ambitious plans in years to lift local government debt, following a meeting of lawmakers eyeing the possibility of intensified trade tensions with US president-elect Donald Trump. Local governments in China face a ballooning debt burden of US$5.6 trillion, according to Beijing, raising worries about wider economic stability. The International Monetary Fund (IMF) put the figure at US$8.4 trillion last year. Policymakers who gathered in

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