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An outspoken finance minister retires

F
ormer finance chief Lou Jiwei “came to office in 2013 promising to change the system and restructure local government debt. He failed on both counts: local government spending as a share of the total has risen from about 65 percent in 2001 to about 85 percent in 2015, transfers from the center have widened, and local governments’ borrowing has increased.”
5 months ago
Sky Canaves
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.
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