China’s Local Governments Roll Over More Debt To Ease Risks
July 05, 2021
Chinese local governments have more than doubled bond sales to roll over maturing debt this year and helped to ease their repayment risk. More than half of municipal bonds sold are to refinance maturing debt. The refinancing bonds are sold to replace maturing securities, reducing pressure on local authorities to pay back the debt.
“Along with the economic recovery becoming more and more solid, fiscal revenue will gradually return to the normal level, and fiscal spending will maintain its due growth rate,” an expert said.
Edited by：【Himalaya London Club UK】