Tag: Bank lending

banking banks central bank China's Middle class chinese economy Chinese state-owned comanies construction consumer price debt crisis economic data economic recovery equity exports finance financial policies fixed asset investment GDP growth gross domestic product imports local politics monetary policies PBOC real estate bubble State Council trade imbalance urban investment

China to Clean Up Billions Worth of Local Debt

Beijing is to take on some 2-3 trillion yuan of local government debts according to Reuters, hoping to stave off a wave of destabilising defaults in the future.As part of Beijing’s overhaul of the finances of heavily-indebted local governments, the central government will pay off some of their loans and state banks including some of the “Big Four” will be forced to take some los