[Hybrid] Is China’s debt sustainable?
Since the onset of the pandemic three years ago, the stringent containment measures taken by the Chinese Government have led to heavy human and economic costs. With China’s abrupt abandonment of its long-standing zero-COVID strategy in late December 2022, it is evident that the central and local governments are trying hard to realise a strong economic recovery and stamp out risks in the property sector – which accounts for approximately a quarter of China’s economy.