Chinese City Official Spent $21 Billion on ‘Vanity Projects’
- Official let city borrow funds for ski resort, others: CCTV
- Case spotlighted in documentary series highlighting corruption
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A corrupt Chinese official loaded more than 150 billion yuan ($21 billion) onto his city’s debt books in one of the country’s most over-leveraged provinces, according to a state media documentary highlighting Beijing’s anti-graft efforts.
Li Zaiyong let his city “borrow blindly” during his tenure running Liupanshui city in Guizhou province between 2013 and 2017, with scant regard for the area’s “actual fiscal affordability,” state-run broadcaster China Central Television said in a documentary aired on Sunday.