China’s regional government debt crisis has seen one city forced to appeal for food to feed hungry animals at its municipal zoo, CNN reported.
A Chinese wildlife conservation group made the plea for animals kept at a zoo inside the local government-run Dongshan Park in the northern province of Liaoning, the report went on.
Provincial authorities have been hit hard after spending billions of dollars on mass testing and lockdowns to enforce President Xi Jinping’s zero-Covid campaign, as well the crisis in the property market which has seen a sharp drop in land sales, depriving them of a major revenue source.
Read the full story: CNN
- By Sean O’Meara
Also on AF:
China Debt Ratio Three Times GDP in Record High – Nikkei
China Debt Woes to Weigh on Asia High-Yield Issues in 2022
China Facing Reality Check After Long Boom Built on Debt
China’s $13tn Provincial Debt Crisis Threatens to Spill Over
