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 أزمة الديون الصينية infographic
Graphic shows breakdown of China’s debt.
GN44993AR

اقتصاد

الصين تتجه نحو معالجة أزمة الديون والعقارات

By Phil Bainbridge

October 30, 2023 - October 31, 2023 - تعقد الصين مؤتمرها للسياسة المالية، الذي يعقد مرتين كل عشر سنوات، في إطار سعيها لمعالجة تضخم ديون الحكومات المحلية والفقاعة العقارية التي يمكن أن تسبب أزمة في ثاني أكبر اقتصاد في العالم.

China’s debt has swollen to a massive 282% of GDP, less than Japan’s 375%, but where the Bank of Japan holds almost two-thirds of the debt as compared to just 21% held by China’s central government. Consequently a higher proportion is in private debt, predominantly for real estate.

Local government, encouraged by Beijing after the 2008 financial crisis to create growth, built up a huge debt for the most part via Local Government Financial Vehicles (LGFVs) for land and infrastructure investments.

With the property sector making up 29% of GDP, any downturn in the market will affect China’s growth, which will in turn affect the global economy.

Sources
PUBLISHED: 27/10/2023; STORY: Graphic News; PICTURES: Getty Images
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