New development: Implicit government debt in China-past, present and future

Since China's central government officially commented on the implicit debt in 2017, the government has been trying to eliminate the 'off balance sheet' or hidden debt. This article discusses the origin of implicit debt in China, the typical forms of implicit debt, the regulatory policies to make this debt transparent and bring it onto the balance sheets, as well as the effect current policies have had on the sources of debt. This article shows a comprehensive picture of the past, present and looks at the future of implicit government debt in China.