Debt at China’s state-owned firms in spotlight as credit tightening raises default pressure

Debt at China’s state-owned firms in spotlight as credit tightening raises default pressure

Debt at China’s state-owned firms in spotlight as credit tightening raises default pressure


China’s big state-owned firms are likely to face growing pressure to make payments on their debt this year as Beijing moves to tighten credit growth, government researchers and analysts said.Last year, Chinese state firms defaulted on 71.8 billion yuan (US$11.1 billion) worth of debt, accounting for 51 per cent of all defaults, and the largest total default total for state firms since China first allowed onshore bond defaults in 2014, according to data from the National Institution for Finance …

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