Chinese cities are facing the financial abyss of their subway systems
Gangxia North subway station, Shenzhen, China, May 14, 2024. MARKUS MAINKA/IMAGEBROKER/MAXPPP In recent days, the economic press and several Chinese observers have been stunned to discover the debt levels of 28 Chinese subway companies: 4.3 trillion yuan (€525 billion). Spotless, air-conditioned and automated, these systems offer a means of transport as practical as it is […]