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Urban development fueled by debt: local government bonds in China
03 November 2022, 6:00 pm–7:00 pm
The Socially Just Planning Doctoral Network welcomes you to this online event given by Zhenfa Li, BSP.
Event Information
Open to
- All
Availability
- Yes
Organiser
-
Socially Just Planning
Zoom ID: 898 447 2724
Passcode: 505066
Since 2015 local government bonds (LGBs) have become the most important financial tool for the Chinese state to finance infrastructure projects. LGBs are called the Chinese version of municipal bonds. However, LGBs have unique features. Despite being called LGBs, they are designed by the Ministry of Finance. The ministry sets annual bond quotas for the 31 provinces and calculates quotas based on local debt situations first and then project financing demand. The counties, cities and provinces should apply for their quotas through a level-by-level applying procedure. LGBs reflect a distinctive process of urban financialisation shaped by the power dynamics between government across different levels.
About the Speaker
Zhenfa Li
PhD candidate at The Bartlett School of Planning, UCL
He got his master degree from Peking University and bachelor degree from Beijing Normal University in China. His current research interest is examining the process of financialisation in urban and regional contexts from an interdisciplinary perspective based on economic geography, urban studies and political economy.