Xi Jinping sweeps debt under the carpet in this editorial cartoon. Beijing reports a decline in hidden local debt, while the IMF’s broader measure of local government financing debt rose about 14 percent from 2023 to 2025.
Beijing says its narrower measure of hidden local debt fell, while the IMF estimates that debt owed by the companies Chinese cities use to borrow rose about 14 percent from 2023 to 2025, reaching roughly $10.5 trillion. The rescue of Zhuhai Huafa shows how one city is keeping a cash-strapped borrower afloat by moving assets between state-owned companies and arranging new financing.
Zhuhai Huafa Group is the largest…
Read the full article at THEGATEWAYPUNDIT.COM
