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How Hard Is It to Cut Chinese Government Debt?

March 15, 2017 By Liu Sha

Debt is a ticking-time bomb for the Chinese economy. In the past three years central government stopped local governments from financing through investment vehicles and set a cap for the issuance of bonds. But new forms of debt continue to be formed. Local officials appear not to care about borrowing more, as long as the money can be used in projects that may translate to political achievements. And with those achievements, officials will be promoted to a higher level–as will the debt burden. A more worrisome thought will be: can those additional government debts and investments support China’s long-term growth?

Filed Under: All Articles, Chinese Economy, Economics, ExpertSpeak, Know China Tagged With: GDP Growth, Inflation, Local Debt

Xu Chenggang on Chinese Economic Reform: Government Stimulus Cannot Sustain Long-Term Growth

February 22, 2017 By CKGSB Knowledge

China’s economic growth over the past few decades has impressed the world. But the world’s second largest economy now faces a difficult transformation: from relying on exports and investments to developing domestic demand. That’s not easy. Government-led stimulus is only a temporary solution and only looked reasonable in the first few years after the recent global financial crisis. In fact, the main problem facing the Chinese economy has been the weak demand in domestic market which manifested clearly in 2006, and became more obvious when growth slowed down.

Filed Under: All Articles, Chinese Economy, Conversations, Economics, Finance, Know China Tagged With: Economic Reform, Housing Prices, Local Debt, Overcapacity, RMB

Chinese Economy Slowdown: The Real Worry is Debt

August 31, 2015 By Major Tian

Slow growth in the Chinese economy will put pressure on local governments’ ability to repay their debts.

Filed Under: All Articles, Chinese Economy, Know China, Videos Tagged With: Debt, Devaluation, Economic Growth, Local Debt, RMB, Slowdown, Video Interview

CKGSB Knowledge Summer 2015 Issue: Big Data in China

June 2, 2015 By CKGSB Knowledge

Big data has made its way to China and has been eagerly adopted by the countryʼs tech giants. Does it stand to revolutionize business?

Filed Under: All Articles, Magazine Tagged With: Big Data, Imports, Interviews, Local Debt, Monopoly, Retail, RMB, Slider, Tourism

China Roundup: Chinese economy grows by 7.3% (only) and Tesla turns to Tmall

October 24, 2014 By Major Tian

This week, all eyes were on the Chinese economy growth figures, the lowest since 2009; and and Tesla stunned company watchers by opening a store on Tmall.

Filed Under: All Articles, Automobile Industry, China Round-up, Chinese Economy, Digital Economy, Economics, Know China, Real Estate, Technology Tagged With: Apple, Chinese Consumers, Chinese Economy, Elon Musk, GDP Growth, Housing Prices, Local Debt, Slider, Tesla, Xiaomi

China Roundup: Robust Growth in China’s Exports and Imports and Alipay Gets a Makeover

October 17, 2014 By Major Tian

This week, China’s exports and imports data showed robust growth despite forecasts that were less rosy; and Alibaba’s financial arm Alipay got a makeover.

Filed Under: All Articles, China Round-up, Chinese Economy, Digital Economy, eCommerce, International Trade, Know China Tagged With: Alibaba, Alipay, Consumer Prices, Economic Growth, Exports, Imports, Inflation, Jack Ma, Local Debt, Slider, Yu'e Bao

Local Government Debt in China

April 21, 2014 By CKGSB Knowledge

Local government debt in China is spinning out of control. A look at the most indebted cities in China and the size of their debts. Nearly everyone agrees that China has a serious local debt problem, some would even call it a crisis, one which the State Council addressed in a highly anticipated report released last summer. […]

Filed Under: All Articles, Chinese Economy, Economics, Infographics, Know China Tagged With: Chinese Economy, Debt, Investment, Local Debt, Local Government, Shadow Banking, Slider

CKGSB Magazine March 2014: The Digital Takeover – Internet Finance versus Traditional Banks

April 1, 2014 By CKGSB Knowledge

You are invited to download the March 2014 issue of CKGSB Magazine. You’ll enjoy articles and interviews like: COVER STORY The Money Matrix: As Chinese consumers show an increasing preference for easy-to-use internet finance, what will happen to traditional banks? SNAPSHOT: China’s Crushing Debt: How serious is China’s local debt problem? A look at the ticking time bomb. […]

Filed Under: Agriculture, Airline Industry, All Articles, Automobile Industry, Best Practice, Chinese Economy, Digital Economy, eCommerce, Environment, Finance, Infographics, Innovation, Intellectual Property, Internet Finance, Know China, Technology Tagged With: Agriculture, Air Quality, Automobiles, Bitcoins, Cosmetics, Debt, Ferrari, Jonah Berger, Local Debt, Media, Phoenix Media, Rolls Royce, Smog

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Information, analysis, and interviews about the Chinese economy and doing business in China, from the people who know it best. Presented by the Cheung Kong Graduate School of Business, China's leading business school.


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RSS CKGSB News & Events

  • Professor Erica Li comments on IMF’s latest ‘Global Financial Stability Report’ and talks about China’s economic outlook and the role it plays in the global economic recovery post-COVID.
  • CKGSB Economist Develops Dynamic Model for Reopening Strategies amid COVID-19
  • Cheung Kong Graduate School of Business and Johns Hopkins Carey Business School Launch Dual Degree Master’s Program
  • What 500 years of history tells us about the long-term economic impact of pandemics

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