Chinese cities are struggling to pay their bills as ‘hidden debts’ soar 随着”隐性债务”的激增，中国城市正在努力支付账单
中国城市因支付巨额新冠肺炎封锁费用而现金不足 China’s cities are running out of cash to pay huge Covid lockdown bills
中国地方自治团体承担的大部分债务都是为了支援引起争议的零新冠肺炎政策的特点–严格的封锁、集体检测、隔离中心。随着债务及其利益的不断积累和成熟，中国地方政府被迫削减支出或推迟投资，阻碍经济增长和公共服务。郑州是世界上最大的iPhone工厂所在地，其财政收入平均每年下降14%，总债务增长14%。 2022年，其债务对财政收入比猛增178%，而2019年为75%。中国城市的公共服务支出正受到债务增长的影响。郑州的公交车司机说，2021年他们的工资被削减了，而清扫街道的人继续工作，尽管几个月来他们都没有得到服务费。
Most of the debts incurred by Chinese local governments aimed to fund the strict lockdowns, mass testing and quarantine centers, which were the hallmarks of the controversial zero-COVID policy. As the debt and its interests continue to pile up and mature, Chinese local governments are forced to cut their spending or delay investments, impeding economic growth and public services. In Zhengzhou, where the world’s biggest iPhone factory stands, the city’s fiscal revenue dropped by an average of 14% per year while its total debt grew by 14%. Its debt-to-fiscal income ratio surged 178% in 2022, compared with 75% in 2019. The Chinese city’s public services spending is feeling the brunt of the growing debt. Zhengzhou’s bus drivers said their salaries were cut in 2021, while street sweepers continue to work despite not being paid for their services in months.
在预示习近平零新冠肺炎政策突然结束的12月政策转换之前,地方自治团体投入巨额资金实施频繁的新冠肺炎封锁、大规模检查、防疫中心设置等,使预算枯竭。
中国一省在政策转换前投入220亿美元用于消除新冠肺炎
中国一省在政策转换前投入220亿美元用于消除新冠肺炎
华盛顿捍卫民主基金会高级研究员克雷格?辛格尔顿(Craig Singleton)说:”北京正面临自己制造的经济雷区。 总而言之,中国当前的债务危机是一场完美的风暴。
Local governments have exhausted their budgets after spending enormous amounts of money on enforcing frequent Covid lockdowns, mass testing and setting up quarantine centers before December’s policy U-turn, which signaled the abrupt end of Xi Jinping’s zero-Covid policy.
One Chinese province spent $22 billion on eliminating Covid before policy U-turn
“Beijing is facing an economic minefield of its own making,” said Craig Singleton, senior fellow for the Foundation for Defense of Democracies in Washington. “All told, China’s current debt crisis represents a perfect storm.”
根据Mars Macro分析师的最新估计，地方政府金融工具发行的”隐性债务”到2022年年中可能总计达65万亿元人民币（合9.6万亿美元）。 湖南的一家经济研究公司。这比高盛2021年预测的53万亿元人民币高出20%以上。
这相当于中国GDP的一半以上。分析师估计，总体而言，中国政府债务相当于其GDP的102%。
The “hidden debt” issued by local government financial vehicles, entities created to circumvent borrowing restrictions and used to channel funding for infrastructure spending, might have totaled 65 trillion yuan ($9.6 trillion) by the middle of 2022, according to a recent estimate by analysts at Mars Macro, an economic research firm based in Hunan. That’s more than 20% higher than the estimate of 53 trillion yuan made by Goldman Sachs in 2021. That would be equivalent to more than half of China’s GDP. Overall, Chinese government debt is now equivalent to 102% of its GDP, the analysts estimated.
中国男子被指拒绝进入隔离设施后被拖出家门 Chinese Man dragged out of home after allegedly refusing to go to quarantine facility