Equities

Reuters reveals Chinese creditors find even state-backed credit protection has its limits

Reuters reveals Chinese creditors find even state-backed credit protection has its limits

Reuters revealed how Chinese creditors are struggling to get their money back from collapsed state-backed groups as China’s soaring debt pile puts pressure on central government. The report detailed how defaults by state firms are on the rise and as a proportion of overall defaults are the fastest-growing in China, prompting warnings from both the Bank for International Settlements and the IMF.