Asia Pacific round-up: China’s debt is now twice the size of GDP, and more

17 Jul 15

A round-up of recent public finance stories from Asia Pacific you might have missed.

China’s debt is now twice the size of its gross domestic product

While China’s economy expanded at a faster-than-expected pace in the year to June, something else accelerated even quicker: private-sector debt. (Business Insider)

Philippines: DBM urges Makati mayor to adopt ATM payroll system

The Department of Budget and Management (DBM) urged Makati City to adopt an ATM payroll system, citing a 2012 report by the Commission on Audit saying that the city was still paying some government employees using cash. (CNN)

World Bank: Malaysia needs integrated urban transport system

It’s time for Malaysia to get serious about developing a more integrated urban transport system in the major cities, says the World Bank. (

India: government to bring in legislation to establish skill universities           

Government will bring in a legislation in Parliament to establish Skill Universities in every state, as a part of its efforts to create a large pool of skilled workforce in the country, Union Minister Rajiv Pratap Rudy said. (Economic Times)

Tokyo’s Olympic stadium shaping up as world’s most expensive sports venue

When the dust settles on the marquee venue for the 2020 Summer Olympics in Tokyo, it could well be the most expensive sports stadium in the world. (Globe and Mail)

Australia: Queensland Labor squeezes coffers for budget

Queensland’s Labor government will squeeze the last drops of juice out of the state’s coffers to pay down debt and deliver its election promises. (ninemsn)

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