Debt of Rs 700 lakh crore on China’s state governments – NNSP

Beijing. The Chinese government has announced a package of Rs 118 lakh crore for the states. The debt of China’s state governments has increased significantly. According to Chinese government data, state governments have a debt of Rs 700 lakh crore. To improve the economic condition of the state governments, the Central Government of China has given Rs 118 lakh crore as a package to various state governments. The way the debt burden on state governments and local institutions is increasing in China. This has increased the concerns of the Chinese government.

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