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China Orders Local Governments to Clear Business Debts by 2025

12/14/2025

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Summary

Story summary

China has ordered local governments to settle outstanding payments to companies by end of 2025 to enhance the business environment.
Xiao Weiming, deputy secretary general of the National Development and Reform Commission, said arrears below 500,000 yuan must be cleared.
Han Wenxiu, from the party's economic affairs office, cautioned against clearing debts only to incur new ones.
The announcement was made at the 2025–2026 China Economic Annual Conference in Beijing.

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Story summary

China has ordered local governments to settle outstanding payments to companies by end of 2025 to enhance the business environment.
Xiao Weiming, deputy secretary general of the National Development and Reform Commission, said arrears below 500,000 yuan must be cleared.
Han Wenxiu, from the party's economic affairs office, cautioned against clearing debts only to incur new ones.
The announcement was made at the 2025–2026 China Economic Annual Conference in Beijing.