Business

Why China’s Debt-Loaded Companies Face a Reality Check

That made it harder for some to raise funds to repay existing debt, leading to a record number of bond defaults in 2018 and 2019 as economic growth slowed.
A de-leveraging campaign that President Xi Jinping began in 2016 to curb risks in financial markets has led to a crackdown on unregulated lending — so-called shadow banking — and tighter rules on asset management.
Chinese companies are facing a reality check after years of ramping up debt.
The coronavirus pandemic has only worsened the outl
Source: washington post

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