China Prints 5 Trillion RMB in 6 Months; Local Government Debt May Trigger Widespread Bankruptcies скачать в хорошем качестве

China Prints 5 Trillion RMB in 6 Months; Local Government Debt May Trigger Widespread Bankruptcies

The Chinese economy is facing a severe downturn, and the decline in the real estate market is a significant factor. The real estate crisis has also exacerbated the debt crisis of local governments. According to data released by the People's Bank of China for the full year of 2023, the asset size of the People's Bank of China has been steadily increasing since July 2023. In July 2023, the asset size was 40.8 trillion yuan, and by December 2023, it had surged to 45.7 trillion yuan, an increase of nearly 5 trillion yuan in six months. It is almost equivalent to the total increase over the past eight years. In comparison, from 2015 to 2022, over eight years, the asset size of the People's Bank of China increased by only 7.8 trillion yuan. #chinaobserver All rights reserved.