Sunday, January 17, 2021
Tags Local government

Tag: Local government

Beijing Tells Insurance Sector Not to Covertly Fund Local Governments

China's insurance regulatory has cautioned the country's insurance funds against providing covert funding to local governments, amidst a crackdown on regional debt. Chen Wenhui, deputy...

Local Government Bond Issuance Expected to Remain Around 4 Trillion Yuan in 2018

Analysts expect heavy regulatory pressure to keep local government bond issuance at around 4 trillion yuan this year, roughly on par with the 2017...

Chinese Local Governments Issued 4.36 Trillion Yuan in Bonds Last Year

Official data indicates that local government bonds emerged as the largest bond category on the Chinese debt market in 2017, as authorities continue to...

Debt Clampdown Compels Local Government to Renege on Bank Commitment Letters

A clampdown on local government borrowing practices by Beijing is already having an impact on regional finance, putting authorities in the difficult position of...

Ministry of Finance Bans Use of PPP’s by Local Government to Covertly Increase Debt

China's Ministry of Finance plans to launch new measures for standardising public-private partnerships that will strictly ban their use for covert financing purposes by...

Politburo Calls for Curbs on Hidden Debt, More Inbound Foreign Investment

The latest meeting of China's senior-most political body has flagged further curbs on the growth of covert financing and a loosening of restrictions on...

Financial Work Conference Targets Rampant Growth in Local Government Debt with Life-time Accountability

China's 5th National Financial Work Conference has turned the spot upon reining in the rampant growth of local government debt. President Xi Jinping said at...

Beijing Cracks Down on Local Government Finance Under Guise of Service Purchases

China's central government is cracking down on the illegal financing of construction projects by local governments under the guise of "service purchases," as part...

Local Government Continues to Lift Debt Levels Illegally: National Audit Office

China's National Audit Office has revealed that many local governments are continuing to raise funds in breach of regulations despite heavier scrutiny from Beijing,...

Most Read

China’s Biggest Bank Opens up to Applications for Digital Renminbi Wallets in Shenzhen

The Industrial and Commercial Bank of China (ICBC) is making digital renminbi wallets available to consumers in the southern tech hub of...

Chinese Central Bank Outlines Efforts to Improve Execution of Monetary Policy

A senior official from the People's Bank of China (PBOC) has published a paper on its official website outlining current plans to...

Foreign Investors Raise Holdings on China’s Interbank Bond Market by over 1 Trillion Yuan in 2020

The latest data from the Chinese central bank points to a sharp rise in investment by foreign institutional investors on China's interbank...

Shenzhen Finance Sector Sees Total Deposits Exceed 10 Trillion Yuan

Financial institutions based in Shenzhen have just seen their deposit levels rise to record-breaking levels.