China’s debt-laden local governments pose challenges to economic growth, financial system

China’s debt-laden local governments pose challenges to economic growth, financial system

SHANGHAI/HONG KONG — China’s push to revive the economy this year by increasing infrastructure spending while warding off financial risks is facing headwinds from massive local-government debt, which is more than $9 trillion and growing. As debt obligations mount, some local governments are pushing banks to extend maturities and cut interest rates…

China’s debt-laden local governments pose challenges to economic growth, financial system

SHANGHAI/HONG KONG — China’s push to revive the economy this year by increasing infrastructure spending while warding off financial risks is facing headwinds from massive local-government debt, which is more than $9 trillion and growing. As debt obligations mount, some local governments are pushing banks to extend maturities and cut interest rates…

China’s debt-laden local governments pose challenges to economic growth, financial system

SHANGHAI/HONG KONG — China’s push to revive the economy this year by increasing infrastructure spending while warding off financial risks is facing headwinds from massive local-government debt, which is more than $9 trillion and growing. As debt obligations mount, some local governments are pushing banks to extend maturities and cut interest rates…

China’s debt-laden local governments pose challenges to economic growth, financial system

SHANGHAI/HONG KONG — China’s push to revive the economy this year by increasing infrastructure spending while warding off financial risks is facing headwinds from massive local-government debt, which is more than $9 trillion and growing. As debt obligations mount, some local governments are pushing banks to extend maturities and cut interest rates…

China’s debt-laden local governments pose challenges to economic growth, financial system

SHANGHAI/HONG KONG — China’s push to revive the economy this year by increasing infrastructure spending while warding off financial risks is facing headwinds from massive local-government debt, which is more than $9 trillion and growing. As debt obligations mount, some local governments are pushing banks to extend maturities and cut interest rates…

China’s debt-laden local governments pose challenges to economic growth, financial system

SHANGHAI/HONG KONG — China’s push to revive the economy this year by increasing infrastructure spending while warding off financial risks is facing headwinds from massive local-government debt, which is more than $9 trillion and growing. As debt obligations mount, some local governments are pushing banks to extend maturities and cut interest rates…