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China’s cities and towns face rising risks of default as regional governments look overseas for financing amid slowdown

1 week ago
Sky Canaves
ocal government financing vehicles have $789 billion of onshore bonds outstanding, but regulatory scrutiny hampers their ability to issue new notes domestically, sparking interest in U.S. currency bonds.
By Sky Canaves
Sky Canaves previously reported for The Wall Street Journal in Beijing and Hong Kong, where she covered media, culture, social issues, and legal affairs, and served as the founding editor and lead writer of the WSJ’s China Real Time site. Prior to becoming a journalist, Sky worked in the China corporate law practice of Baker & McKenzie, and she has also taught journalism and media law at the University of Hong Kong. She speaks Mandarin and has accumulated more than a decade's experience living, studying and working in China.