Economy
Why China's debt-ridden local governments left trillions of special bond proceeds unused
PIIE researcher Tianlei Huang explains how local governments did not make the best of the local special bond programme, a major instrument of fiscal stimulus after the pandemic in 2020. He considers if the programme needs to be downsized, and resources possibly channelled to other areas such as building human capital.
Tianlei Huang
Economy
China's housing downturn: Household registration reform needed
In China, policy easing in real estate continues even as calls for greater stimulus packages get louder. But to address the nub of the property downturn, says PIIE researcher Tianlei Huang, long-term challenges such as supply-demand imbalances and the discriminatory household registration system should be addressed.
Tianlei Huang
Economy
China's private sector has continued its rise against all odds
Peterson Institute of International Economics researchers Tianlei Huang and Nicolas Véron analyse the seeming anomaly that an increasingly statist policy environment in China has not prevented a rapid rise of the private sector. While various factors have paused this rise, will the upward trajectory likely resume in President Xi's third term?
Tianlei Huang