More recent developments
MNR shares details on SPB-funded land acquisition scheme
On Monday, the Ministry of Natural Resources (MNR) issued implementation guidelines for a national program to repurchase idle land from developers. ICYDK: First flagged by Finance Minister Lan Fo’an at an October press conference, the plan permits local governments to… Read More »
Credit growth drops below PBoC’s red line
In October, credit growth dropped below the minimum rate set by the central bank (PBoC). Some context: In March, PBoC Deputy Governor Xuan Changneng said that to achieve China’s economic growth target, total social financing (TSF) growth “should not be… Read More »
MoF ramps up drive to eliminate hidden debt
China's finance ministry (MoF) has finally put out an official figure to quantify the country's local government hidden debt problem. ICYMI: On Friday, MoF authorized local governments to issue RMB 10 trillion in special-purpose bonds (SPBs) from 2024 to 2028… Read More »