20% of China's Unpaid Local Govt Debts Underestimated
Around 20% of China's outstanding local government debts have been wrongly categorized as "safe," Bloomberg reported, citing a source from the nation's banking regulator. The risks of up to ¥1.8 trillion of local government debts were underestimated, and they should be redefined, the source said.
1,000 Exec Aircraft in China in 10 Years
China will need 1,000 executive aircraft to meet demand for high-end air travel in the next decade, Kong Linshan, chairman of Minsheng Financial Leasing Co, said at the establishment of the China Executive Aircraft Shanghai Alliance.
$1 = ¥6.29