Chinese local governments have increased the number of culture-and-tourism investment companies (CTICs) in recent years, with some designed to shift their traditional financing vehicles onto a market-oriented footing, allowing localities to sidestep strict borrowing limits.
In Depth: Chinese Local Governments Risk Replicating Mistakes of LGFVs
2025年11月12日 18:41
Localities have created thousands of ‘culture and tourism’ investment companies, with some designed to shift their traditional financing vehicles onto a market-oriented footing and sidestep borrowing limits
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- Many CTICs are struggling with ailing projects, despite favorable conditions in the domestic tourism sector, which is supported by government policies and a broader boom in local tourism. Photo: AI generated
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