Thinking About China
Opinion

China’s Local Government Debt: The Hidden Threat

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China’s Local Government Debt: The Hidden Threat
A worker uses a hand tool to make containers at a factory in Lianyungang in China's eastern Jiangsu Province on Aug. 27, 2021. STR/AFP
Antonio Graceffo
|Updated:
News Analysis
At the close of 2020, China’s local government debt stood at $3.97 trillion. However, this does not include hidden debt, which is believed to be even larger.
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Antonio Graceffo
Antonio Graceffo
Author
Antonio Graceffo, Ph.D., is a China economy analyst who has spent more than 20 years in Asia. Graceffo is a graduate of the Shanghai University of Sport, holds an MBA from Shanghai Jiaotong University, and studied national security at American Military University.
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