China debt: Beijing names and shames costly local government projects in bid to curb debt

Source: China – South China Morning PostBeijing has named and shamed eight local government projects in four western provinces as part of its push to rein in mounting local government debt and excessive borrowing in the property sector.The State Council, the country’s cabinet, rebuked local officials over their loose debt policies and told them to “strictly follow fiscal discipline”. It also warned it would step up scrutiny of local government infrastructure spending and projects.“Highly indebted regions, except necessary expenditure…Read More

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