💨 Abstract

China will allow local governments to issue an additional 6 trillion yuan ($837.7 billion) in bonds over three years to address off-balance sheet or "hidden" debt, aiming to lower systemic risks in the economy. This follows a bill approved by China's top legislative body to raise local government debt ceilings. The move is part of ongoing efforts to stimulate economic growth amid weak domestic demand, a property crisis, and financing strains.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖