Borrowers shift offshore as China gets serious on deleveraging

Debt on a downward spiral: China’s LGFVs

Analysts fear that defaults in the shadow banking space could push into public bond markets. Will Beijing be able to implement reform?

April 25, 2023

Investors must tread carefully with LGFV bonds

Investors are rushing back to Chinese LGFV offshore bonds, but credit risk means that picking the wrong ones could be costly.

May 29, 2019

Local Chinese state firms to stand on their own feet

In a move to curb local government debt, regional governments will no longer guarantee the offshore bonds of local Chinese state firms.

June 17, 2019

China LGFVs: fears mount of bond defaults

Concern the country’s local government financing vehicles could default on debt are rising, but foreign investors look set to keep buying their bonds.

September 27, 2017

China's LGFVs hit debt markets

Local government financing vehicles in China are raising many questions for bond investors. They will need answers soon — a big jump in supply looms large.

October 03, 2016

Moody’s' Chung dissects China LGFVs at FinanceAsia summit

Central China Real Estate’s Mai expresses cautious optimism over property sector while New World Development’s Lam elaborates on Greater Bay Area challenges.

October 20, 2020