China’s local governments face a record number of lawsuits for failing to pay their contractors on time as the country’s slowing economy puts a strain on public finances.
The financial outlook has deteriorated so markedly that analysts have warned that there is a risk of social unrest.
Chinese courts have listed 831 local governments as being in default in the first 10 months of this year, compared with 100 in the whole of 2018. The value of these local authorities’ overdue payments grew by more than 50 per cent from Rmb4.1bn at the end of last year to Rmb6.9bn ($984m) at the end of October.
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