Categories: Videos

Chinese Debt Trap Hits China’s Local Governments | Chinese Govt In Debt Trap

<p>
<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/q-F6bav6SXY" title="YouTube video player" width="560"></iframe></p>
<p>
China is waking up to their failed economic policy with the China Banking and Insurance Regulatory Commission (CBIRC) and Ministry of Finance issuing a notice asking local banking and insurance institutions not to increase their “hidden debts” in the local governments. The move has jolted the local government investment companies as banks play a key role in providing loans as a main source of indirect financing.</p>

IN Bureau

Recent Posts

Foreign Secy to brief parliamentary panel on India’s ties with Canada, China

Foreign Secretary Vikram Misri is likely to tomorrow brief the Parliamentary Standing Committee on External…

9 hours ago

PoGB Lawyer condemns land reform bill, calling it “against natural justice”

Renowned lawyer Ashfaq Ahmed Advocate has condemned the proposed Gilgit-Baltistan Land Reform Act 2024 and…

10 hours ago

J-K: Encounter breaks out between security forces and terrorists in Bandipora

An encounter broke out between security forces and terrorists in the Ketsun forest area of…

10 hours ago

LG Ladakh inaugurates 4th LG Horse Polo Cup, Ladakh’s first Polo Stadium in Dras

Lieutenant Governor of Ladakh, Brigadier (Dr) BD Mishra inaugurated the 4th LG Horse Polo Cup…

12 hours ago

Last set of disengagement between India, China concluded on October 21, says EAM Jaishankar

India and China concluded the last lot of disengagement on October 21 and the implementation…

13 hours ago

Pakistan: Baloch activist expresses outrage over Mastung bomb blast

Baloch "pro-independence" leader Allah Nazar Baloch has expressed outrage over the recent bomb blast near…

13 hours ago