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Auditors Flash Warning Light Over Local Governments’ Hidden Debts

2019年08月01日 20:27 来源于 财新网
Watchdogs from multiple provinces highlight the risks of off-balance-sheet borrowing that one estimate put at around $5.8 trillion
Several local government officials told Caixin that a large amount of hidden local government debt will be due within three years. Photo: IC Photo

*Auditors in the provinces of Zhejiang, Jiangsu, Shandong and Henan have raised concerns about lower-level government’s off-balance-sheet debts in their 2018 reports

*Auditors in Zhejiang said some localities are taking on new debt to repay old obligations, while those in Jiangsu said some governments delayed planning how to resolve their off-balance-sheet debts because of scheduling issues

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