China debt: anti-corruption watchdog vows clamp down on the ‘money bags’ of local governments

Source: China – South China Morning PostThe Jiangsu branch of China’s anti-graft watchdog has said it will target corruption and disorder surrounding local government financing vehicles (LGFVs) – known as the “money bags” of regional authorities – once again highlighting poor transparency around the platforms amid mounting debt pressure.Investigations by the provincial branch of the Central Commission for Discipline Inspection (CCDI) has found the platforms are often the culprits in bribery cases.“These platforms are the money bags…Read More

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