China has entered the "comprehensive salary cuts" era, and the finances of the country's local authorities are in major crisis, in which 12 provinces and cities are "at high risk of bankruptcy." Bloomberg reported that Beijing is launching a trillion-dollar bond plan to solve local authorities' debt problems.
According to RFA, many Chinese regime workers revealed that civil servants in Jiangsu, Tianjin, Guangdong, and other major economic provinces are owed salaries due to financial exhaustion.