Abstract
China’s true level of local government debt is unknown. The central government recently introduced policies to increase transparency and close some of the obscure financial instruments. Urban construction investment bonds (UCIBs) are one of the key instruments affected by these changes. Both positive and negative impacts can be expected. The issues the Chinese government is facing and its policy response provide important lessons for other governments.
Acknowledgements
This article was sponsored by the Chinese Scholarship Council.
Additional information
Notes on contributors
Lan Bo
Lan Bo is an Associate Professor in Sunwah International Business School, Liaoning University, China, and a Visiting Scholar at De Montfort University, UK.
Fred C. J. Mear
Fred C. J. Mear is a Principal Lecturer in the Accounting and Finance Department at De Montfort University, UK, and a Visiting Professor at Liaoning University, China.
Jingchi Huang
Jingchi Hang is a Lecturer in the School of Political Science and Public Administration, Wuhan University, China.