Aug 30 2024 17 mins 3
Samuel Kwok, Head of Fitch’s APAC International Public Finance shares his views on China’s local government and LGFV debt problem.
- (01:21) - 1H24 local governments’ fiscal trends
- (04:02) - Expect marginal improvement in 2H24
- (05:30) - Effect of measures to de-risk twelve “high-risk” provinces
- (08:22) - LGFVs’ onshore bond yields at record low
- (11:28) - Introduction of top three credit themes
- (12:25) - Potential impact of reform measures pledged by Third Plenum
- (14:21) - The second credit theme on social housing investment
- (15:17) - The third credit theme on LGFV debt restrictions
- (16:32) - Maintain a neutral credit outlook
