The movement of localised Chinese officials reflects a focus on mitigating financial risks and addressing debt crises. It indicates that China's top leadership recognises the need for more professional financial officials to handle issues such as local debt, financing, and bond issuance. SMU Associate Professor of Finance Fu Fangjian analysed that in the past, Chinese local officials prioritised GDP growth as their main directive, often paying little attention to local debt burdens and repayment issues. In contrast, finance-savvy professional officials tend to fully consider repayment capacity and debt risks, demonstrating a stronger sense of boundaries.
