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New development: China’s debt transparency and the case of urban construction investment bonds

Author

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  • Lan Bo
  • Fred C. J. Mear
  • Jingchi Huang

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.

Suggested Citation

  • Lan Bo & Fred C. J. Mear & Jingchi Huang, 2017. "New development: China’s debt transparency and the case of urban construction investment bonds," Public Money & Management, Taylor & Francis Journals, vol. 37(3), pages 225-230, April.
    • Handle: RePEc:taf:pubmmg:v:37:y:2017:i:3:p:225-230
    DOI: 10.1080/09540962.2017.1282254
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    Cited by:

    1. Bo Zhang & Li Zhang & Jing Wu & Shouqing Wang, 2019. "Factors Affecting Local Governments’ Public–Private Partnership Adoption in Urban China," Sustainability, MDPI, vol. 11(23), pages 1-14, December.
    2. Ye, Zhen & Zhang, Fangzhu & Coffman, D’Maris & Xia, Senmao & Wang, Zhifeng & Zhu, Zhonghua, 2022. "China’s urban construction investment bond: Contextualising a financial tool for local government," Land Use Policy, Elsevier, vol. 112(C).
    3. Wan, Rui & Fan, Wencheng & Wang, Xiaoping, 2024. "Local government financing vehicle restructuring, implicit government guarantees and debt financing costs: Evidence from the Chinese municipal corporate bond market," Economic Systems, Elsevier, vol. 48(2).
    4. Cong Yu & Linke Hou & Yuxia Lyu & Qi Zhang, 2022. "Political competition, spatial interactions, and default risk of local government debts in China," Papers in Regional Science, Wiley Blackwell, vol. 101(3), pages 717-743, June.
    5. Yunyang Ji & Xiaoxin Guo & Shihu Zhong & Lina Wu, 2020. "Land Financialization, Uncoordinated Development of Population Urbanization and Land Urbanization, and Economic Growth: Evidence from China," Land, MDPI, vol. 9(12), pages 1-22, November.

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