State debt | South China Morning Post
  • Thu
  • Mar 5, 2015
  • Updated: 2:52am

State debt

PUBLISHED : Sunday, 13 October, 1996, 12:00am
UPDATED : Sunday, 13 October, 1996, 12:00am

CHINA'S State Statistics Bureau has revealed that the mainland's troubled state-owned enterprises had debts of US$405 billion in 1995. The 3.36 trillion yuan (about HK$3.12 trillion) debt of the 148,000 firms outstripped private bank deposits of 2.97 trillion yuan in 1995, and much of the debt was 'impossible to repay,' the state-run China Daily said.


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