Local Government Financing Platforms in China: A Fortune or Misfortune? »
Journal Issue
Volume/Issue: 2013/243
Series: IMF Working Papers
Author(s): Yinqiu Lu , and Tao Sun
Publisher: Bank of Communications/New Finance
Publication Date: 16 December 2013
Language: Chinese
DOI: http://dx.doi.org/10.5089/9781484335895.001
ISBN: 9781484335895
Keywords: Governance, China, Government expenditures, Revenues, Bond issues, Banks, local governments, local government borrowing, local government debt, local government revenue
China's rapid credit expansion in 2009-10 brought local government financing platforms (LGFPs) into the spotlight. This paper discusses their function, reasons behind their recent expansion, and risks they are posi...