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 China in der Schuldenkrise infographic
Graphic zeigt Aufschlüsselung von Chinas Schulden.
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ECONOMY

China verändert sein Finanzsystem

By Phil Bainbridge

October 30, 2023 - October 31, 2023 - In China findet die zweimal in 10 Jahren stattfindende Finanzpolitik Konferenz statt, es wird versucht die Immobilien Blase und stark steigende Schulden der Lokalregierungen in den Griff zu bekommen, die eine Krise in der zweitgrößten Weltwirtschaft hervorrufen könnte.

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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