Xiangtan Launches 345 Projects and Illicitly Adds 43.5 Billion Yuan in Debt
After Cao Jiongfang became Party Secretary of Xiangtan in May 2016, knowing full well that the debt had already been flagged, he still pushed the "Exquisite Xiangtan Two-Year Action," rolling out 345 projects with a total investment of 61.7 billion yuan, adding 43.5 billion yuan of new debt in violation of regulations, and leaving behind 33 unfinished projects.