China Trapped in Investment Slump as Infrastructure Bonds Dry Up

China’s local borrowing for infrastructure spending is on pace to hit a six-year low, as Beijing clamps down on risks in a strategy shift that calls into question its promise...

By John Liu, Fran Wang, Jing Zhao, Yujing Liu · Bloomberg Markets

China’s local borrowing for infrastructure spending is on pace to hit a six-year low, as Beijing clamps down on risks in a strategy shift that calls into question its promise to stop an unprecedented investment slump.