- Published at
- by businessmirror.com.ph
mixed
mixed
China’s $6 trillion hidden debt gets stress-tested in downturn
China’s property market crunch is making it difficult for local governments to cut an estimated $6 trillion of hidden debt even as Beijing shows more determination in cracking down on the problem. Beijing, Shanghai and Guangdong province are planning trials to eliminate the off-balance sheet borrowing that local authorities use…