Which province owes the most debt???
In 2020, Tianjin, Jiangsu, Guizhou and Chongqing will exceed 300%, most provinces in the country will be between 120% and 300%, and only Tibet, Shanghai and Shanxi will be less than 120%. Among them, Tianjin's adjusted debt ratio is the highest, reaching 612.6%, a sharp increase of 179.5 percentage points over 2019, the largest increase in the country, mainly due to the large decline in Tianjin's comprehensive financial resources in 2020 (-21%), while the total debt is still growing (11.7%). Jiangsu's adjusted debt ratio is 369%, mainly due to the large number of bond-issued urban investments, resulting in a larger scale of interest-bearing debts, which will be 6.6 trillion yuan at the end of 2020. However, the growth rate of Jiangsu's comprehensive financial strength in 2020 is greater than the growth rate of total debt, so the adjusted debt ratio is 5.6 percentage points lower than that in 2019.
From the perspective of the changes in the adjusted debt ratio, most provinces in the country will rise to varying degrees in 2020, and the adjusted debt ratios of Tianjin and Shandong will rise more, with an increase of more than 50 percentage points. Among them, Shandong's comprehensive financial strength has increased in 2020, but due to the increase in total debt, it has led to an overall increase in the adjusted debt ratio. Only Liaoning, Jiangsu, Ningxia and Gansu saw declines, and the decline was small, none exceeding 10 percentage points. Among them, the adjusted debt ratio in Gansu fell by only 0.3 percentage points, and Liaoning, Jiangsu and Ningxia fell by 9.9, 5.6 and 4.1 percentage points respectively. The reason for the decline in the adjusted debt ratio in these four provinces is that the growth rate of comprehensive financial resources is greater than the growth rate of total debt.
