China’s Government Debt-to-GDP Ratio Soars as Spending Booms, Revenue Shrinks

2021年01月29日 23:36 来源于财新网

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The ratio rose to 45.8% in 2020 from 38.5% the previous year, official data show, increasing for the third year in a row

: The Ministry of Finance’s headquarters in Beijing in November 2018.

China’s official government debt as a proportion of GDP surged 19% last year as the authorities authorized billions of yuan of spending to help the economy recover from the impact of the Covid-19 pandemic and extended tax and fee cuts.

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