Posted 10/29/2023, 10:00:26 AM
China's Leaders to Address Local Debt Risks at Key Financial Meeting
- China's top leaders to gather for key financial conference focusing on debt risks and strengthening Communist Party supervision
- Local governments running out of money due to property market downturn, debt problems will be a main focus
- Hidden debt accumulated by local governments remains high despite previous crackdowns
- Central government may have to bail out local governments and deal with financial sector personnel to prevent misuse of aid
- Other potential focuses include managing systemic risk, supporting SMEs impacted by developer troubles, revitalizing capital markets