P report: strengthening the financial system to promote local debt management
Standard Poor’s 28th reported, China plans to strengthen public finance system could promote the Chinese local government debt at a manageable level and thus play an important role in limiting the rise in the local debt. The report blamed the China local government debts rising local government revenue and expenditure might be mismatches and off balance sheet arrangements not transparent, as well as weak financial management. P credit analyst Kim Eng Tan said China’s financial management is still immature, lack of transparency and accountability mechanisms and therefore weaker disciplined local government borrowing, actively adopt economic stimulus measures by the Central [...]