The Fengxin Expressway is one of many unfinished infrastructure projects in Zunyi, a city of 6.6 million people in mountainous Guizhou province.
Photographer: Qilai Shen/BloombergChina's Hidden-Debt Problem Laid Bare in Zunyi City's Half-Finished Roads, Empty Flats
A city in one of China’s poorest provinces is awash in half-built roads and apartment blocks, symbolic of the mounting debt crisis facing municipalities around the country after years of stimulus-fueled growth.
On a newly built six-lane highway in China’s southwest, a few young people jogged in light drizzle, housewives walked their dogs and retired men holding bird cages strolled with friends as cars occasionally passed in the other direction.
The Fengxin Expressway, still partially closed after construction stalled four years ago, is one of the many unfinished infrastructure projects in Zunyi, a city of 6.6 million people in mountainous Guizhou province. In addition to highways, housing projects and tourist attractions also stand incomplete, symbolic of the stark debt crisis that many local governments in China are facing after years of credit-fueled stimulus to juice growth.