Logo 20 Oct 2023

Everyone’s invited

Subscribe to keep reading.

Trivium Markets keeps you briefed on the latest developments in China markets policy.

Try it free

Already a subscriber? Log in.

A scheme allowing local governments to refinance hidden debt has expanded to more provinces.
ICYDK: In August, Caixin reported that the finance ministry (MoF) had approved 12 of China’s most financially overstretched provinces to issue RMB 1.5 trillion in bonds to pay down hidden debt.
But by o...



More recent developments

Logo June 18, 2025
Chery signs surprise battery agreement with LGES, as automakers seek battery supply diversification

Chinese automakers are taking aim at CATL's battery dominance. On Monday, China’s fourth-largest automaker, Chery, entered a surprise agreement with South Korea's LG Energy Solution (LGES) to purchase 8 GWh of nickel-manganese-cobalt (NMC) batteries through 2030. Some context: Once the… Read More »

Logo June 18, 2025
MoF injects capital into BoC and BoCom

China’s finance ministry (MoF) has begun recapitalizing the country's biggest banks to bolster financial stability. ICYMI: In March, Beijing announced plans to issue RMB 500 billion of special treasury bonds (STBs) this year to replenish the tier-1 capital of China’s… Read More »

Logo June 18, 2025
Beijing steps up borrowing in Jan-May to support spending

Beijing has aggressively front-loaded bond issuance to boost spending this year. Some context: During March's annual legislative meeting, policymakers raised the budget deficit from 3% to 4% of GDP for 2025 – the biggest deficit ratio since the pandemic. Beijing isn't… Read More »