Provincial-level governments in China are mounted with $13 trillion of debt but also account for about two-thirds of the country's science and technology expenditure

At a twice-a-decade financial policy meeting this week, Beijing vowed to uphold the centralised and unified leadership of the CCP on China's financial work

Debt-heavy municipalities represent a major risk to the world's second-largest economy and its financial stability, amid a deepening property crisis

Local administrations issued bonds to the tune of 1.41 trillion yuan ($210 billion) up till Sunday June 26, which was an 80% jump from a year ago, and that total could rise further

A directive by the State Administration of Foreign Exchange (SAFE) did not change policies but the impact of stricter pre-issuance supervision was noticeable

Reports that lenders are curbing property loans to local government financing vehicles is "concerning" as they are bigger and more significant source of funding than dollar bonds, DBS says