China local government debt risk survives reforms

Policy changes have made local government borrowing more transparent, but crucial weaknesses in the system persist

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In this article

  • Sources of risk
  • Opacity
  • Reliance on land
  • Financial stability
  • Social instability
  • Food security
  • Bonds
  • Debt swap
  • LGFVs return
  • Continued reliance on land

What is this?

This article is from the Oxford Analytica Daily Brief, which analyses geopolitical, economic, social, business and industrial developments on a global and regional basis, providing clients with timely, authoritative analysis every business day of the year. Find out more about the Oxford Analytica Daily Brief, or request a trial.