China local government financing vehicles total is put at 37% of GDP

09/29/2013 | Caijing Magazine online · Xinhuanet.com (China)

Local government financing vehicles in China amounted to 37% of gross domestic product as of the end of last year, and the debt-to-fiscal revenue ratio for these governments averages about 109%, according to a Nomura economist who predicts Beijing is likely to take action. Separately, the Administration of Foreign Exchange reported that China's capital and financial account surplus narrowed to US$28.6 billion in the second quarter.

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Caijing Magazine online · Xinhuanet.com (China)

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