The Rise and Fall of LGFVs - by Jonathon P Sine

Part 1: How China's local government financing vehicles (LGFVs) became China's most complex economic challenge.

The Rise and Fall of LGFVs Part 1: How China's local government financing vehicles (LGFVs) became China's most complex economic challenge. Jonathon P Sine Apr 02, 2024 127 12 18 Share In this essay, the first of a two part series, we will tell the story of China’s LGFVs: that special type of state-owned enterprise (SOE) behind China’s infrastructure building bonanza. Along the way, we will look at the political and economic processes in China that facilitated their rise, and assess what we know and what we don’t know about them. It is a very long and comprehensive post, and no offense will be

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