Property crisis: How China’s munic • Table.Briefings

Chongqing metropolis in the twilight: „Selling everything to make ends meet.“

China’s cities and municipalities are selling their silverware. The old revenue streams have dried up, and borrowing has exceeded the limits. Debts are running into the trillions and the first defaults are occurring.

Chinese local governments are selling off property en masse to keep their finances afloat. Thanks to falling property prices, the long-standing debt problems have turned into a crisis, permanently burdening the economy.

Property crisis: How China’s municipalities want to escape the debt trap

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