Numlock News: May 23, 2023 • Transformers, QR Code, Country Music
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By Walt Hickey Debt China is attempting to address a massive amount of hidden debt taken on by local governments. The amount of on-the-books debts for local governments is 35 trillion yuan as of 2022, according to the IMF, but there’s an ocean of debt in the form of local government financing vehicles — much of which are held by insurance companies and banks — and in public-private partnerships, and other off-the-book debts. The estimates for the off-books debt vary, but China Chengxin International Credit Rating Co. puts it at
Numlock News: May 23, 2023 • Transformers, QR Code, Country Music
Numlock News: May 23, 2023 • Transformers, QR…
Numlock News: May 23, 2023 • Transformers, QR Code, Country Music
By Walt Hickey Debt China is attempting to address a massive amount of hidden debt taken on by local governments. The amount of on-the-books debts for local governments is 35 trillion yuan as of 2022, according to the IMF, but there’s an ocean of debt in the form of local government financing vehicles — much of which are held by insurance companies and banks — and in public-private partnerships, and other off-the-book debts. The estimates for the off-books debt vary, but China Chengxin International Credit Rating Co. puts it at